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- Former US Securities and Exchange Commission (SEC) commissioner Paul Atkins has emerged as the leading candidate to replace Gary Gensler.
- Meanwhile, it is widely speculated that Atkins may turn down the offer due to his several business interests.
US President-elect Donald Trump is expected to name a new chairman for the US Securities and Exchange Commission (SEC) this week following Gary Gensler’s step-down notice. Fascinatingly, the two current SEC commissioners, Hester Peirce and Mark Uyeda were rumored to be under consideration for the role. However, the latest disclosure by multiple crypto influencers suggests that Paul Atkins has been handed the official offer.
According to reporter Mario Nawfal, Trump’s team has already interviewed Atkins, and his announcement could be made in the coming days.
Trump has chosen Paul Atkins, a pro-crypto trailblazer, to lead the SEC—marking a massive win for the crypto industry. Atkins, known for his forward-thinking stance on digital assets, promises to deliver clear, innovation-friendly regulations that could finally put the U.S. at the forefront of global crypto leadership. This bold pick is a clear break from Gary Gensler’s enforcement-heavy era, signaling a new chapter for fairer, industry-driven policies.
Who is Paul Atkins
Atkins is a former SEC commissioner who served from July 9, 2002, to August 2008. In 2016, he joined a business forum organized by Trump to provide strategic and policy advice on economic issues. He is also known for consistently criticizing the SEC’s lawsuit against Ripple Labs. In one of his statements, Atkins pointed out the inconsistencies in the SEC’s lawsuit and suggested that they withdraw it.
Commenting on this, FOX Business journalist Eleanor Terrett disclosed how people confront her with questions regarding the authenticity of this information. According to her, these reports are not confirmed until Trump officially announces his appointment. However, she still stands by her earlier disclosure that Atkins is being considered for the position.
Bloomberg is now reporting something @CGasparino and I have been reporting for at least two weeks — that former @SECGov commissioner Paul Atkins is being considered to succeed @GaryGensler. While nothing is final until we hear it from @realDonaldTrump himself, Atkins is… https://t.co/2SWrZad9NN— Eleanor Terrett (@EleanorTerrett) November 27, 2024
Meanwhile, rumors suggest that Atkins may not accept the offer. According to some of the reasons analyzed by CNF, the former SEC Commissioner has several business interests, and accepting this offer demands that he resign from those entities.
What a Pro-Crypto SEC Chair Could Mean to Ripple (XRP)
According to reports, the Gensler administration took several aggressive enforcement actions against the crypto industry, creating an unfavorable atmosphere for the asset class to thrive in the US.
Notably, the SEC engaged Ripple in a multi-year legal battle, causing XRP to miss out on the previous market bull run. Following Gensler’s resignation announcement, XRP has surged by 419% in the last 30 days and 91% in the last seven days to trade at $2.6. Reserve Rights token (RSR) has also surged by 54% in the last 24 hours.
For crypto influencer Oscar Ramos, the selection of Atkins could send XRP to $10.
Trump selected the pro-crypto Paul Atkins to chair the Securities and Exchange Commission (SEC), according to three sources familiar with the discussions. XRP to $10 is my target! BYE GARY, Hello Ripple PUMP.
Similarly, the head of research at Presto Research, Peter Chung believes that Gensler’s resignation may boost the chance of Ripple in the case against SEC. As we reported, the new administration could either settle with them or withdraw the lawsuit.
