Thread by @JohnEDeaton1

THEORY 2: PERSONAL GAIN Jay Clayton, prior to the SEC, was a partner at Sullivan & Cromwell LLP as its Head of Corporate Practice and Finance. Clayton advised the largest firms in INVESTMENT BANKING and had a long history of advising and working with Goldman Sachs (GS).

Read @Santiag78758327 Thread below for great insight. He points out GS is deeply involved and familiar with the global banking infrastructure including cross-border commodity swaps and the SWIFT PAYMENT SYSTEM. Jay Clayton’s wife has worked for and closely with GS for 2 decades.

https://twitter.com/santiag78758327/status/1341857182225199104

The SEC in it’s Complaint admits that since, at least 2015,
Ripple has targeted replacing SWIFT in the international payment arena with XRP. As @sentosumosaba and others have discussed, SBI Holdings is testing the use of XRP in the Fx markets. A former GS executive,

experienced in the Fx markets, resigned from GS to go work for Ripple for this potential use case for XRP. The global Fx market is a $1-7 quadrillion market. In October 2020, 60 days before the SEC enforcement action against Ripple, GS officially made a play into the

cross-border payment market and officially became a competitor to Ripple. Remember, cross-border payments was
the DESIGNED use case for XRP. Also remember, for THE LAST FIVE YEARS Ripple has been the ONLY company offering a replacement to the SWIFT payment system.

GS will now compete with Ripple in both the Fx markets and cross-border payments. It will be interesting to see what
connection, if any, Jay Clayton has with GS after leaving the SEC. If he ends up at GS maybe I can ask @digitalassetbuy to have his son DRAW YOU A PICTURE.