The net effect of Clayton's action was to drive the price of XRP down. Was that the plan?
Analyst Highlights Clayton's Role in SEC's Ripple Lawsuit, Citing Conflict-of-Interest Concerns
Feb 3, 2026
The U.S. Securities and Exchange Commission, under Clayton's leadership, filed a civil enforcement action against Ripple on December 22, 2020, alleging the company conducted an unregistered securities offering through sales of its XRP token.
The lawsuit immediately triggered a sharp decline in XRP's price and led multiple exchanges to suspend or limit trading for U.S. users. Notably, internal opposition within the SEC reportedly surfaced before the filing, with senior attorneys and market specialists warning the case had weak legal foundations and risked significant market harm.
Jay Clayton resigned as SEC Chairman just one day after the lawsuit was filed, an unusual timing that drew widespread scrutiny. Shortly after leaving public office, Clayton joined investment firms with significant crypto exposure. He became an independent board director at Apollo Global Management and also joined One River Asset Management, a firm with substantial holdings in Bitcoin and Ethereum.
https://coinalertnews.com/news/2026/02/03/clayton-sec-ripple-lawsuit-conflict