US President-elect Trump has been revealed to have appointed former SEC Commissioner Paul Atkins, who supports cryptocurrency, to be the SEC Chair. However, insiders say that Atkins himself is reluctant to take on the SEC Chair position. (Background: Trump is rumored to announce a new SEC Chair candidate as soon as tomorrow! Who is most likely to succeed Gary Gensler?) (Additional background: The Trump administration is said to be allowing the 'CFTC to lead cryptocurrency regulation,' weakening the SEC, with crypto veteran becoming a popular candidate for the crypto czar position.) The current Chair of the US Securities and Exchange Commission (SEC), Gary Gensler, announced last month that he would officially resign when Trump’s administration takes office on January 20. The cryptocurrency community is watching to see if Trump will nominate a crypto-friendly individual to take over the SEC Chair position, ending years of high-pressure regulatory environment. Reports emerged yesterday that Trump is likely to officially nominate a much-anticipated SEC Chair candidate today (the 4th). According to Unchained Crypto, three sources indicated that Trump has appointed former SEC Commissioner Paul Atkins, who supports cryptocurrency, to be the SEC Chair, and one source noted that Trump has contacted Atkins and is waiting for his acceptance. Paul Atkins | Source: David Paul Morris/Bloomberg Trump's first choice for SEC Chair, Paul Atkins, does not want to take on the mess. However, the latest report from Coinsesk shows that Paul Atkins is unwilling to take on the SEC Chair position. A person familiar with Atkins’ thoughts stated that the SEC Chair role is 'not attractive' to Atkins, as he believes reversing this bloated agency requires a lot of work and criticizes the current Chair Gensler for poor management. Once speculated to be a popular candidate for SEC Chair, Chris Giancarlo, the former Chair of the Commodity Futures Trading Commission (CFTC), who is rumored to have a chance to become the first 'crypto czar' in history, is also unwilling to clean up Gensler's 'mess' and has recommended Atkins for the SEC Chair position. Industry insiders revealed that Atkins appeared at Trump’s Mar-a-Lago estate this week and plans to interview for the SEC Chair position on Sunday and Monday. Who is Paul Atkins? Paul Atkins served as an SEC Commissioner during the presidency of George W. Bush (2002-2008) and is widely respected in conservative legal circles and among the Republican establishment. During his tenure, current SEC crypto-friendly Republican Commissioner Mark Uyeda and 'crypto mom' Hester Pierce both served as advisors to Atkins. After leaving the SEC, he is now the founder and CEO of Patomak Global Partners, a global consulting firm focused on strategy, risk management, and regulatory compliance, which also provides compliance consulting services to cryptocurrency companies. Atkins has continued to publicly support the crypto industry in recent years and has served as the co-chair of the Token Alliance, an industry organization, since 2017. It is rumored that Atkins has a close relationship with billionaire hedge fund manager Scott Bessent, the founder of Key Square Group, who has been nominated by Trump as Treasury Secretary. Those familiar with Atkins’ thoughts indicate that he is not willing to leave his company to become SEC Chair, and he would only consider it if his company were in a favorable position and could operate well without him. Prediction platform Kalshi: Paul Atkins has over a 70% chance of becoming SEC Chair. Reports state that the main candidates currently considered by Trump’s transition team also include former Acting Comptroller of the Currency Brian Brooks and cryptocurrency lawyer Teresa Goody Guillén. Brian Brooks, who formerly served as Chief Legal Officer of Coinbase and CEO of Binance US, has received strong support from the Web3 community, but insiders say his chances are low due to a lack of experience in securities law. Teresa Goody Guillén has received support from Binance founder Zhao Changpeng (CZ), Cardano founder Charles Hoskinson, and other cryptocurrency executives due to her long-standing support for cryptocurrency and her experience representing blockchain clients and opposing the SEC. Guillén publicly stated last month on X that she hopes to 'make cryptocurrency great again' and has been polling on the most effective ways for the agency to respond to regulatory challenges, indicating a strong desire to replace Gensler. The well-known prediction platform Kalshi, regulated in the US, posted in its community yesterday that Paul Atkins' winning probability once soared to 93%, but after news of his reluctance to take the SEC Chair position emerged, the latest data shows his winning probability has dropped to 75%, still far above Brian Brooks' 9% and Teresa Goody Guillén's 9%. Source: Kalshi Other SEC Chair candidates Other reports mention SEC Chair candidates including: Circle General Counsel Heath Tarbert: He has served as CFTC Chair, Assistant Secretary of the Treasury, and Deputy Counsel to the White House, with extensive experience. Securities litigation lawyer Brad Bondi, who frequently serves the SEC: His sister Pam Bondi was nominated by Trump as Attorney General, but critics argue he lacks Web3 experience. Former SEC Director of Investment Management, Kirkland and Ellis partner Norm Champ: He is a supporter of Trump’s campaign and has responded that he would be happy to take the SEC Chair position. Former SEC General Counsel Robert Stebbins: Supported by former SEC Chair Jay Clayton appointed during Trump’s first term, but criticized by Ripple supporters for personally signing, approving, and encouraging about 80 SEC enforcement actions related to cryptocurrency, including the most controversial Ripple case. Former SEC Director of Investment Management Dalia Blass: Also supported by Jay Clayton, she is now a Senior Managing Director and Global Head of External Affairs at BlackRock. If the Senate does not confirm the SEC Chair nominee before Trump takes office on January 20, Republican SEC Commissioner Mark Uyeda may become the acting Chair of the SEC, while 'crypto mom' Hester Pierce, who was originally rumored to possibly serve as acting Chair, has reportedly privately expressed no intention to do so. The cryptocurrency community is closely watching the selection process for the new SEC Chair, and the outside world expects...

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