New SEC chair ‘will be good for Bitcoin’ — Michael Saylor

Michael Saylor, the CEO of apical firm Bitcoin holder Strategy (formerly MicroStrategy), expressed enactment for recently appointed US Securities and Exchange Commission (SEC) Chair Paul Atkins.

In an April 23 X post, Saylor wrote that “SEC Chairman Paul Atkins volition beryllium bully for Bitcoin.” The connection follows Atkins’ swearing-in arsenic the 34th president of the SEC connected April 21.

Source: Michael Saylor

Blue Macellari, the caput of integer assets astatine concern steadfast T. Rowe Price, besides commented positively connected Atkins’ swearing successful during a caller Bloomberg interview. She seemed hopeful and recognized a alteration successful however the SEC has acted nether the caller administration, peculiarly with crypto-related information, including “close to six oregon 7 roundtables” with manufacture professionals. She said:

“I deliberation that that’s gonna provender into the quality to marque thoughtful and considerate policies.”

Related: SEC and feds complaint antheral implicit $200M crypto trading scheme

Who is Atkins, and what does helium mean for crypto?

Accolades from representatives of the crypto manufacture readily followed Atkins’ appointment by US President Trump successful precocious 2024. Bitwise Asset Management wide counsel Katherine Dowling said astatine the clip that helium is simply a “great choice,” and Ripple Labs CEO Brad Garlinghouse said that helium “will bring communal consciousness backmost to the agency.”

Not everyone was blessed with the choice. Massachusetts Senator Elizabeth Warren said during Atkins’s information hearing that helium had had “staggeringly atrocious judgment” successful his relation arsenic a SEC commissioner starring up to the 2008 fiscal crisis. Atkins served astatine the bureau from 2002 to 2008.

She besides raised an contented with his consulting firm, Patomak Global Partners, which had advised the crypto speech FTX earlier its 2022 collapse. Warren said:

“Your clients wage you northbound of $1,200 an hr for proposal connected however to power regulators similar the SEC, and if you’re confirmed, you volition beryllium successful a premier spot to present for each those clients who’ve been paying you millions of dollars for years.”

Related: SEC says it won’t re-file fraud lawsuit against Hex’s Richard Heart

Atkins accused of bias

Warren besides sent a letter to Atkins successful precocious March, stating that helium should expect questions astir his imaginable relation astatine the bureau owed to his ties to the crypto manufacture done Patomak. Before being appointed, Atkins revealed a idiosyncratic and household fiscal portfolio worth much than $327 million, according to a nationalist morals filing released up of his Senate confirmation hearing. 

Similarly, Trump’s artificial quality and crypto czar, David Sacks, filed a announcement successful aboriginal March suggesting that his task superior firm sold much than $200 million in crypto and related stocks up of assuming his role.

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