The new SEC chairman is actually FTX’s compliance consultant

Source: C Labs Crypto Observation

The big melon of the replacement of the chairman of the US SEC, which everyone has been paying attention to, finally came to an end a few days ago.

Trump finally nominated Paul Atkins as the new SEC.

Hester Peirce, the SEC crypto mother who had been highly popular before, also tweeted early to express his support:

Atkins has been in the SEC for a long time. The last time he was nominated as a SEC commissioner by Bush Jr. in 2002, he served until 2008.

When he was in the SEC, Bitcoin had not yet been launched.

After leaving the SEC, Atkins founded a consulting company called Patomak Global Partners, which mainly provides compliance consulting services to clients.

Interestingly, this consulting company took on a well-known client in January 2022: FTX.

Patomak has been providing consulting services to FTX until FTX collapsed, with a total service time of 10 months.

After this battle, I believe Atkins must have a very good understanding of the dangers of the encryption circle~

But even if FTX collapsed and SBF was a fraud, Atkins still believes that the reason why the matter is so big is that the US regulation is not suitable for encryption, a new technology.

Since 2017, Atkins has also been the co-chairman of Token Alliance, a lobbying organization that strives to promote the large-scale landing of crypto assets.

It can be said that Atkins is a big man who understands crypto and is deeply involved in the development of the industry.

In addition to the chairman, the SEC will have four commissioners, a total of five people forming the top leadership of the SEC.

Currently, two Republican commissioners support crypto, and three Democratic commissioners restrict crypto.

Among them, the current SEC Chairman Gary Gensler and his younger brother Jaime Lizarraga are determined to resign after Trump takes office.

At the beginning, the Bitcoin spot ETF was firmly opposed by Lizarraga, a die-hard.

Because of Lizarraga's resignation, after Atkins, who supports crypto, succeeded as SEC chairman, the president can nominate another commissioner.

According to Trump's style, he may nominate another crypto-supportive bigwig as an SEC commissioner.

By then, the crypto-supportive commissioners will occupy 4 seats, and the future is promising~