President Donald Trump nominated former SEC Chairman Jay Clayton as Director of National Intelligence on Thursday. Clayton authorized the SEC's landmark lawsuit against Ripple in 2020, alleging $1.3 billion in unregistered XRP sales. The lawsuit became a pivotal event in crypto regulation, with Judge Analisa Torres later ruling only institutional sales violated securities law, fining Ripple $125 million in 2024. Both sides dropped appeals in 2025. Clayton currently serves as US Attorney for SDNY and would replace acting DNI Bill Pulte, whose lack of intelligence experience drew bipartisan criticism. Despite lacking intelligence background, Clayton's prior Senate confirmation as SEC chair (61-37) smooths his path. XRP rose nearly 4% on the news, trading near $1.13. Critics note neither Clayton nor Pulte have intelligence experience, but Trump praised Clayton as 'highly respected.' Confirmation hearings will test Clayton on surveillance and national security matters, while XRP holders watch whether their former adversary leaves financial regulation behind.

Key facts

• Trump nominates ex-SEC Chair Jay Clayton as DNI, replacing acting director Bill Pulte.
• Clayton authorized the 2020 SEC lawsuit against Ripple over unregistered XRP sales.
• Judge Torres fined Ripple $125M in 2024, far less than SEC's $2B demand.
• XRP rose 4% on news, trading near $1.13 with $71B market cap.
• Critics note Clayton lacks intelligence background, but Senate confirmed him for SEC in 2017.

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