XRP- Out of Steam and awaiting SEC

Bitcoin gets rejected before the 50k mark and this causes the rest of the crypto family to lose momentum.

The SEC is facing tremendous pressure for its decision-making when it comes to enforcement of the digital asset space:


SEC V. RIPPLE WAS FILED BY JAY CLAYTON, NOW HE JOINS FIREBLOCKS WHILE UNDER INVESTIGATION FOR POTENTIAL CONFLICT OF INTEREST
AUGUST 20, 2021 3:56 AM UTC, RICK STEVES
Jay Clayton has come under increased scrutiny over his handling of cryptocurrency issues while Chairman of the SEC, including the complaint filed against Ripple just before leaving office and joining One River Asset Management.


Jay Clayton, the former Chair of the U.S. Securities and Exchange Commission, has joined Fireblocks as a member of its Advisory Board.

Fireblocks is a crypto asset custodian which has secured the transfer of over $1 trillion in digital assets and has an insurance policy that covers assets in storage and transit.

The firm has over 500 customers ranging from global banks to many of the largest crypto-native exchanges, lending desks, hedge funds, OTC desks, and market makers.

Several top names within the industry are using Fireblocks’ service, including Revolut, BlockFi, Celsius, PrimeTrust, Galaxy Digital, Genesis Trading, crypto.com, and eToro.

Mr. Clayton’s appointment will help Fireblocks and its customers navigate evolving market and regulatory dynamics affecting the development and deployment of solutions for the emerging digital asset infrastructure, said the official statement.

Michael Shaulov, CEO and Co-Founder of Fireblocks, said: “Jay’s insights on financial stability and security in financial markets is unparalleled. Fireblocks will greatly benefit from having Jay on the advisory board given his expertise on many aspects of the financial sector. Jay will help to advance further the safety and security of the Fireblocks infrastructure for capital markets participants and investors.”

“Fireblocks has emerged as a leader in the evolving digital asset space. The scope of the company’s vision to improve the digital asset infrastructure and security is extensive”, said Jay Clayton.

“I share Fireblocks view that digital asset custody requires the same level of service as traditional custody while also striving for better regulatory outcomes in security, certainty, and resiliency. I appreciate the company’s commitment to improving all aspects of the custody and transfer ecosystem and the team’s level of engagement with industry incumbents who have robust legal and compliance infrastructure as well as new entrants in the space.”