Fireblocks is in the news Thursday after the crypto security company brought on ex-SEC chair Jay Clayton.
Clayton is joining Fireblocks as a member of its advisory board. He served in the role of SEC chair from 2017 to 2020 during the Trump administration. During that time, he was strict on cryptocurrencies.
Here’s what Clayton had to say about joining Fireblocks while speaking with Reuters.
“My primary role is to help Fireblocks understand how these new digital solutions and investment opportunities best fit within existing market practices and regulations. I’ve long said that the new technology should not cause us to change the fundamental protections in our securities markets.”
Now let’s take a look at what you need to know about Fireblocks and what it has to do with crypto.
- Fireblocks was founded by CEO Michael Shaulov and CTO Idan Ofrat in 2019.
- Prior to creating the company, the two worked for cybersecurity leader Check Point.
- This saw them assisting with the investigation into $200 million worth of stolen Bitcoin (CCC:BTC-USD) during the Lazarus Group hack of 2017.
- That inspired them to create Fireblocks, “an easy to use digital asset security platform that helps financial institutions protect digital assets from theft or hackers.”
- It does so via MPC & patent-pending chip isolation technology for secure private keys and API credentials.
- These “eliminate the need for deposit addresses.”
- It’s worth pointing out that Fireblocks launched in 2019 with $16 million in Series A funding.
- A recent funding round saw it raise a total of $133 million.
- One noteworthy name from that funding effort is Bank of New York Mellon Corp (NYSE:BK).
Investors looking for more crypto news Thursday are in luck!
InvestorPlace has the latest crypto news traders need to know about today. That includes a dive into Ethereum (CCC:ETH-USD), four cryptos to consider as Bitcoin adoption increases, as well as Ethereum price predictions. Crypto traders can get up to speed on these topics at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.