Paul Atkins and Potential SEC Chair Role

Long-time crypto supporter and former regulator Paul Atkins' chances of being the next U.S. Securities and Exchange Commission (SEC) chair have risen to 90% after reports that President-elect Donald Trump has reached out to him.

Atkins' likelihood of leading the agency increased on the prediction market Kalshi, reflecting his emergence as a top contender. A report from Unchained stated that Trump made contact with Atkins and is awaiting his acceptance, according to sources. However, CoinDesk noted that Atkins is hesitant to leave his firm, Patomak Global Partners, for this position.

Karoline Leavitt, spokeswoman for the Trump-Vance transition team, stated that decisions will be announced by Trump once they are finalized. She emphasized that President-elect Trump is making prompt and thoughtful choices regarding his second administration.

Atkins' firm, Patomak Global Partners, founded in 2009, serves clients including banks, crypto exchanges, and DeFi platforms. He previously served as an SEC commissioner from 2002 to 2008, appointed by former President George W. Bush. Additionally, Atkins joined The Digital Chamber's board of advisers in 2020.

Other contenders for the SEC chair role included Dan Gallagher, a Robinhood executive; Robert Stebbins, a partner at Willkie Farr & Gallagher; and Teresa Goody Guillén, a partner at BakerHostetler and former litigation counsel for the SEC. Gallagher announced on Nov. 22 his disinterest in taking the role.

Current SEC Chair Gary Gensler plans to step down on Jan. 20, 2025, coinciding with Trump's inauguration. Gensler faced criticism from the crypto industry due to enforcement actions against major players including Coinbase, Binance, and Kraken. He also advocated for central clearing in Treasury markets and implemented executive pay changes during his tenure at the SEC.