Long-time crypto supporter and former regulator Paul Atkins' chance of being the next U.S. Securities and Exchange Commission chair rose to 90% amid a report that President-elect Donald Trump reached out to Atkins.
Atkins' chances to lead the agency rose steadily over the past few days on the prediction market Kalshi following reports that Atkins was emerging as a top contender. Unchained then reported on Tuesday that Trump had reached out to Atkins and was waiting for him to accept, citing a source familiar with the discussions. Later, CoinDesk reported Atkins was hesitant to leave his firm, Patomak Global Partners, for the role, citing a person familiar.
Karoline Leavitt, spokeswoman for the Trump-Vance transition team, said decisions will be announced by Trump "when they are made."
“President-Elect Trump has made brilliant decisions on who will serve in his second Administration at lightning pace. Remaining decisions will continue to be announced by him when they are made," Leavitt said in an emailed statement to The Block.
Atkins' firm Patomak did not respond to requests for comment from The Block.
Atkins founded the consulting firm Patomak Global Partners in 2009. The firm has clients including banks, crypto exchanges and DeFi platforms, according to its website. Atkins was previously appointed by former President George W. Bush as an SEC commissioner from 2002 to 2008. Atkins also joined The Digital Chamber's board of advisers in 2020.
Other contenders for the SEC chair role included Robinhood executive Dan Gallagher, partner at Willkie Farr & Gallagher Robert Stebbins and partner at BakerHostetler law firm and former litigation counsel for the SEC Teresa Goody Guillén. Gallagher said on Nov. 22 that he did not want the role.
Current SEC Chair Gary Gensler said he plans to step down on Jan. 20, 2025, the day of Trump's inauguration. Gensler had become a designated villain for some in the crypto industry following enforcement actions against big industry players including Coinbase, Binance and Kraken. Besides crypto, Gensler also led efforts to push for central clearing in Treasury markets and implemented changes on executive pay versus performance during his time at the SEC.
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