As the cryptocurrency market experiences a price correction, several social media posts claim that President-elect Donald Trump plans to appoint pro-crypto advocate Paul Atkin to replace Gary Gensler at the Securities and Exchange Commission (SEC). However, there has been no official confirmation from either Atkin or Trump’s team regarding these developments.
Although this rumored news is spreading like wildfire on social media, it has caught the attention of several crypto and ETF experts from Bloomberg. However, according to an expert’s post 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, the buzz has influenced market sentiment. Altcoins like XRP, BNB, and XLM have seen modest gains of 3.4%, 3.2%, and 4.15%, respectively, as traders speculate on a more crypto-friendly SEC under Atkin’s potential leadership.
However, Atkin is a former SEC Commissioner who served under President George W. Bush from 2002 to 2008. He has been vocal in his support of the crypto industry and was the first libertarian to serve as an SEC Commissioner.
Known for his innovative approach and crypto expertise, Atkin is regarded as capable of “returning the agency to the so-called gold standard,” according to a crypto expert on X (formerly Twitter).
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