Sources reveal that Paul Atkins, the SEC chair candidate nominated by Trump, is unwilling to accept the position. People familiar with Atkins' thoughts indicate that the role holds little appeal for him due to the extensive work required to "overhaul this bloated agency," which he believes is mismanaged under the outgoing SEC Chair Gary Gensler.
Atkins is the founder and CEO of Patomak Global Partners, a global consulting firm focused on strategy, risk management, and regulatory compliance. Patomak serves cryptocurrency companies, but they are just a small part of its diversified business, which also includes traditional financial clients, publicly traded companies, industry associations, law firms, banks, and insurance companies.
Insiders say that Paul Atkins is reluctant to leave his own company, and taking on the SEC Chair position would require him to resign from his business interests; he may only consider this if the company can operate normally without him.