President-elect Donald Trump has appointed former SEC Chair Jay Clayton as the U.S. Attorney for the Southern District of New York. Clayton, who led the SEC from 2017 to 2020, is noted for overseeing the agency's broader regulatory stance on the crypto industry. During his tenure, he produced the SEC's DAO Report, asserting that most initial coin offerings should be classified as securities. Clayton's appointment comes in the aftermath of high-profile prosecutions tied to financial misconduct, including that of FTX founder Sam Bankman-Fried, who was convicted on seven counts related to fraud. This recent appointment is part of a broader reshuffle by Trump, who has announced several names for key positions since his reelection, including others like Robert F. Kennedy Jr. and Matt Gaetz. Clayton is currently a senior policy advisor at Sullivan and Cromwell and has been involved in advisory roles since stepping down from the SEC.

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