Donald Trump Appoints Paul Atkin as New SEC Chair
As the cryptocurrency market undergoes a price correction, some social media posts claim that President-elect Donald Trump plans to appoint pro-crypto advocate Paul Atkin to replace him Gary Gensler at the U.S. Securities and Exchange Commission (SEC). However, there has been no official confirmation of these developments from Atkin or the Trump team.
New SEC Chairman: Paul Atkin or Rumor?
Although the rumor spread like wildfire on social media, it still attracted the attention of several cryptocurrency and ETF experts. Bloomberg. However, according to a post by an expert on X (formerly Twitter), Trump has reached out to Atkin for the SEC position, but the agency is still awaiting confirmation.
Despite the lack of official confirmation, this rumor has impacted market sentiment. Altcoins such as XRP, BNB, and XLM edged up 3.4%, 3.2%, and 4.15% respectively, as traders speculated that the SEC would be more supportive of cryptocurrencies under Atkin’s potential leadership.
Who is Paul Atkin?
Atkin, however, is a former SEC commissioner who served under President George W. Bush from 2002 to 2008. He has been an outspoken supporter of the cryptocurrency industry and was the first libertarian to serve as SEC commissioner.
Cryptocurrency experts on X (formerly Twitter) said Atkin, known for his innovative approach and cryptocurrency expertise, is seen as having the ability to “return the institution to the so-called gold standard.”
