Crypto Advocate John Deaton Criticizes Former SEC Chair Jay Clayton’s Views on Bitcoin

Famous crypto lawyer and Ripple advocate John E. Deaton took to Twitter earlier today to slam legal expert and controversial former Chairman of SEC Jay Clayton over his comments on the largest cryptocurrency in the world.

Deaton’s Warning

Renowned crypto investor APomliano is the one who triggered Deaton’s comments when he posted a video of Clayton on CNBC’s Squawk Box. In the video, Clayton was asked for advice on their portfolio and the lawyer mocks Bitcoin, condescendingly saying:

“Bitcoin should not be a dominant portion of any investor’s portfolio.”

John Deaton, known for his astute remarks, was quick to notice the discrepancy in statements made by Clayton. This, Deaton highlights, is in stark contrast to the former SEC Chair’s professional affiliations just a few years ago.

A Trip Down Clayton’s Bitcoin Lane

The journey of Jay Clayton with Bitcoin is layered and worthy of attention. While his recent remarks might raise doubts about his faith in the crypto giant, his past suggests a different story. Not too long ago, as Deaton pointed out, Clayton accepted a role with One River, a company that confidently placed a whopping $1B wager on both Bitcoin (BTC) and Ethereum (ETH). 

This decision raises questions about Clayton’s genuine stance on Bitcoin. Was it a mere career choice, or did he see the potential that he now downplays in public forums?

The Underlying Message

The issue that Deaton underscored wasn’t Clayton’s personal investment choices or career moves. Instead, it was the perceived double standard in his public discourse versus his actions. 

While public figures like Clayton are entitled to their evolving views, it’s essential for the crypto community to consider the potential motivations behind such statements.

Cryptocurrencies, especially Bitcoin, have always been at the center of heated discussions, debates, and differing opinions. Enthusiasts and investors alike need to remain discerning, ensuring they dig a little deeper than surface-level statements.

Like Deaton said:

“Do what they do, NOT what they say.”