Former SEC Chair Jay Clayton confirmed that he has been appointed as the interim US Attorney for the Southern District of New York after the Democratic Party’s Senate leader used a “blue slip” to block a vote confirming Clayton’s position.

The appointment comes a little over five months after US President Donald Trump nominated Clayton to take on the role. He replaces Damian Williams, who played a major role in the conviction of former FTX CEO Sam Bankman-Fried and other high-profile crypto cases.

Clayton said on April 22 his top priorities would be to protect public safety, ensure the integrity of the US financial system, defend national security interests and combat fraud, particularly against the elderly and most vulnerable.

The temporary nature of Clayton’s appointment resulted from Democrat Senate Minority Leader Chuck Schumer’s use of a blue slip to block Clayton’s confirmation on April 16, effectively preventing a Senate vote and official confirmation of his position. 

Blue slips can be used by senators to block US attorney or district court judicial nominees in their home states. 

Clayton is allowed to serve as interim US attorney for up to 120 days without Senate confirmation. After that, he will need to be approved in a Senate vote or receive a temporary extension of his interim status from Manhattan’s federal court.

Trump criticized Schumer’s move in an April 17 Truth Social post, pointing out that Clayton received bipartisan support in the Senate and that Clayton complied with all requests asked of him.

Source: Donald Trump

The interim status of Clayton’s position will last until around Aug. 20. The role will see him as the top law enforcement officer for New York’s Southern District, encompassing the counties of New York, Bronx, Westchester, Rockland, Putnam, Orange, Dutchess and Sullivan.

The Southern District of New York is the oldest federal court district in the US, and its location in the country’s financial epicenter means it often handles high-profile cases involving white-collar crime.

Clayton has shared mostly positive views on crypto

Clayton served as SEC chair between May 4, 2017, and Dec. 23, 2020, and brought 56 cases against crypto firms during his tenure.

Related: Oregon AG lawsuit against Coinbase calls XRP unregistered security

He stated in a December 2021 CNBC interview that he’s a “huge believer in crypto technology,” adding that “the efficiency benefits in the financial system and otherwise from tokenization are immense.”

Clayton has also praised Bitcoin (BTC) as a prominent store of value, but didn’t allow Bitcoin exchange-traded products during his time as SEC chair.

The first US Bitcoin investment product was approved in 2021 under former SEC Chair Gary Gensler.

Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set

The XRP Ledger Foundation has identified a “serious vulnerability” in the official JavaScript library used for interacting with the XRP Ledger blockchain network, the nonprofit said.

On April 22, blockchain security specialist Aikido said in a blog post that XRP Ledger’s open-source JavaScript library was “compromised by sophisticated attackers who put in a backdoor to steal cryptocurrency private keys and gain access to cryptocurrency wallets.” 

The JavaScript library includes programs enabling developers to interact with the XRP Ledger and is distinct from the blockchain network itself. 

‘“[T]his package is used by hundreds of thousands of applications and websites making it a potentially catastrophic supply chain attack on the cryptocurrency ecosystem,” Aikido said. 

The XRP Ledger Foundation has already upgraded the code repository to “remove the previously compromised version,” it said in an April 22 post on the X platform.

Aikido identified unusual code in XRP’s JavaScript package. Source: Aikido

Related: Coinbase Derivatives lists XRP futures

It added that several XRP Ledger ecosystem projects — including XRPScan, First Ledger, and Gen3 Games — confirmed that they were not impacted by the incident. 

The XRP (XRP) token ended the US trading day up more than 3.5% despite news of the security breach, according to CoinGecko. 

The token has a market capitalization of more than $125 billion and a fully diluted value of approximately $215 billion. 

XRP’s token price on April 22. Source: CoinGecko

Institutional adoption

Launched in 2012, XRP Ledger is among the oldest blockchain networks and specializes in payments and decentralized finance (DeFi) applications for institutions. 

It has been gaining prominence in recent months as a friendlier US regulatory environment paves the way for broader institutional adoption of the network’s token and ecosystem projects. 

The XRP token’s price increased by upward of 300% after crypto-friendly US President Donald Trump prevailed in the November presidential election, according to CoinGecko. 

Since then, several asset managers have asked the US Securities and Exchange Commission (SEC) to approve US-listed exchange-traded funds (ETFs) holding the XRP token. 

On April 21, Coinbase listed futures contracts for the XRP token on its US derivatives exchange. 

Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC

Chiliz, a SportsFi company, has met with the United States Securities and Exchange Commission (SEC) to discuss an investment and reentry into the US crypto market under the crypto-friendly White House and increased push for regulatory clarity surrounding digital assets.

According to the meeting request made public by the SEC, Chiliz plans a reentry into the US market around the time of the 2026 FIFA World Cup international football (soccer) tournament. The comeback would be accompanied by a $50 million to $100 million investment in the local market. National Basketball Association and National Football League teams are said to be interested in launching fan tokens if regulatory clarity improves.

The meeting with the federal agency was held on April 22 — the same day Chiliz CEO Alexandre Dreyfus shared a photo with Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets, suggesting a second meeting with White House officials.

Source: Alexandre Dreyfus

According to the meeting document, Chiliz discussed the proposed structure of a fan token and why “it should not be classified as a security.” Broadly, a security is an investment wherein the investor expects a profit due to the efforts of someone other than the investor.

Whether cryptocurrencies and related assets are securities has been a key issue in the regulation of Web3 within the United States.

Related: Chiliz’ Socios.com secures in-principle license approval in Malta

Chiliz ecosystem sees lower TVL in 2025

Chiliz, despite its partnerships with football clubs, gaming teams, and racing companies, has seen a significant drop in activity within its ecosystem. DefiLlama data shows the protocols’ total value locked has fallen from $17.8 million on Dec. 9, 2024, to $6.5 million on April 22, 2025, marking a 63.5% drop.

Chiliz TVL. Source: DefiLlama

Its governance token hasn’t fared particularly well, either. According to CoinMarketCap, the Chiliz (CHZ) token price has declined 67% over the past 12 months. The company is known for its fan tokens, which allow enthusiasts to own the official cryptocurrencies of their favorite sports clubs.

The company has made headway into the soccer market, partnering with Football Club Barcelona, Paris Saint-Germain, and Manchester City, among others.

Related: FIFA launches NFT collection amid 2023 Club World Cup

Chiliz invested $80 million in partnerships within the US market in 2021, the document shows. However, regulatory uncertainty and the fallout from FTX’s collapse led to a “strategic exit” in the following year.

The next World Cup is expected to take place in June 2026. The United States will be the main host of the tournament, while Canada and Mexico will act as auxiliary hosts.

Magazine: ‘Normie degens’ go all in on sports fan crypto tokens for the rewards

Chiliz, a SportsFi company, has met with the United States Securities and Exchange Commission (SEC) to discuss an investment and reentry into the US crypto market under the crypto-friendly White House and increased push for regulatory clarity surrounding digital assets.

According to the proposed meeting request made public by the SEC, Chiliz plans a reentry into the US market around the time of the 2026 FIFA World Cup. The comeback would be accompanied by a $50 million to $100 million investment in the local market. NBA and NFL teams are allegedly interested in launching fan tokens if regulatory clarity improves.

The meeting with the federal agency was held on April 22 — the same day Chiliz CEO Alexandre Dreyfus shared a photo with Bo Hines, executive director of Trump’s Council of Advisors for Digital Assets, suggesting a second meeting with White House officials.

Source: Alexandre Dreyfus

According to the meeting document, Chiliz discussed the proposed structure of a fan token and why “it should not be classified as a security.” Broadly, a security is an investment wherein the investor expects a profit due to the efforts of someone other than the investor.

Whether cryptocurrencies and related assets are securities has been a key issue in the regulation of Web3 within the United States.

Related: Chiliz’ Socios.com secures in-principle license approval in Malta

Chiliz ecosystem sees lower TVL in 2025

Chiliz, despite its partnerships with football clubs, gaming teams, and racing companies, has seen a significant drop in activity within its ecosystem. DefiLlama data shows the protocols’ total value locked has fallen from $17.8 million on Dec. 9, 2024, to $6.5 million on April 22, 2025, marking a 63.5% drop.

Chiliz TVL. Source: DefiLlama

Its governance token hasn’t fared particularly well either. According to CoinMarketCap, the Chiliz (CHZ) token price has declined 67% over the past 12 months. The company is known for its fan tokens, which allow enthusiasts to own the official cryptocurrencies of their favorite sports clubs.

The company has made headway into the soccer market, partnering with Football Club Barcelona, Paris Saint-Germain, and Manchester City, among others.

Related: FIFA launches NFT collection amid 2023 Club World Cup

Chiliz invested $80 million in partnerships within the US market in 2021, the document shows. However, regulatory uncertainty and the fallout from FTX’s collapse led to a “strategic exit” in the following year.

The next World Cup is expected to take place in June 2026. The United States will be the main host of the tournament, while Canada and Mexico will act as auxiliary hosts.

Magazine: ‘Normie degens’ go all in on sports fan crypto tokens for the rewards