Luring him in with the reported promise of a seven-figure salary, blockchain payments company Ripple hired former Securities and Exchange Commission Chair Jay Clayton Monday, allegedly so they could fire him almost immediately.

“It was pretty funny,” said 4-year Ripple employee Leonard Mingus to XRP_Productions reporters. “You should have seen him strutting around here when he first arrived... he really thought he was hot stuff... little did he know what was to come... BWAHAHAHAAA!”

Former SEC Chair Jay Clayton being sent to get coffee for Ripple executives with his underwear on his head, an initiation prank on his first (and subsequently last) day of work at the Silicon Valley company.

The move is speculated to be somewhat of a retribution for the lawsuit that Clayton introduced on his final day at the SEC alleging that Ripple's sales of XRP have been securities violations.

“Nahhhh, it didn't have anything to do with that,” said Mingus. “Ripple hired him and gave him an honest chance. They just realized very quickly how incompetent he was...”

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