Donald Trump Names Former SEC Head Jay Clayton to Lead New AI Force

Donald Trump Appoints Jay Clayton to Lead Super Intelligence Force

President Donald Trump has appointed Jay Clayton to lead the United States' new Super Intelligence Force. Clayton formerly served as the head of the Securities and Exchange Commission (SEC), a government agency that regulates financial markets. The new group is tasked with coordinating federal efforts to ensure the country leads the world in artificial intelligence (AI).

Clayton’s appointment has drawn criticism from some in the crypto industry. During his final day at the SEC, he launched a lawsuit against Ripple, and he later led a criminal trial against Roman Storm, a developer for the privacy tool Tornado Cash. Storm expressed concern that this leadership choice may not support the future of open-source AI.

Significant Developments Across the Crypto Market

• The Blast network is shutting down because its operating costs are higher than its revenue.
• Crypto hackers stole more than $766 million in September, making it the worst month for exploits in 2026.
• Tether froze $550 million in USDT linked to Iran during 2026.
• Ethereum has scheduled its Glamsterdam upgrade to activate on a testnet, which is a trial version of the blockchain, on October 6.

Blast Layer-2 Network Announces Shutdown

Blast, an Ethereum layer-2 network, has announced it will close. A layer-2 network is a system built on top of a main blockchain to help it process transactions faster and at a lower cost. The network team stated they see no way to make the system economically sustainable. Users have been asked to withdraw their assets to the main Ethereum network.

Since its peak in June 2024, the total value of assets held on Blast has fallen by more than 98%. The network originally gained attention by offering rewards to users who deposited funds before its official launch.

September Hack Losses Reach Yearly High

Blockchain security firms reported that September was the most damaging month for crypto security in 2026. PeckShield and CertiK estimated that total losses from hacks and exploits exceeded $766 million across dozens of incidents. These losses included a $388 million breach of the Bitget exchange and a $320 million hack of the Liquid Network, though a large portion of the Liquid funds was later returned.

What Has Been Confirmed

Several major events have been verified by official statements and reports. The appointment of Jay Clayton was confirmed via a post on Truth Social. The closure of the Blast network was announced by its official team on social media. Additionally, Tether confirmed it has worked with international law enforcement to freeze hundreds of millions of dollars in USDT, which is a stablecoin—a digital currency tied to the value of the US dollar.

Perspectives on Future Market Trends

Veteran trader Peter Brandt stated that he believes a new bull market, or a period of rising prices, has begun for Bitcoin. He suggested that Bitcoin could reach between $300,000 and $600,000 by late 2029. Meanwhile, Arthur Hayes, chief investment officer at Maelstrom fund, claimed that increased money printing by governments is inevitable to fund the massive costs of the AI revolution and manage national debt.

Timeline for Upcoming Changes

The next major step for the Ethereum network is the activation of the Glamsterdam upgrade on the Sepolia testnet on October 6. This upgrade is designed to improve how the network handles data and speed up the processing of transactions. For the newly formed Super Intelligence Force, the focus will move toward coordinating government efforts to maintain a lead in advanced technology.

Sources

• Cointelegraph