Trump’s SEC Chair nominee, Paul Atkins, vows to divest $6M in crypto holdings within 120 days if confirmed, amid a combined $327M asset disclosure.
The SEC chairmanship has been vacant since Gary Gensler stepped down following Donald Trump’s election as the 47th President of the United States. Trump nominated Atkins as a potential replacement.
As part of the confirmation process, Atkins is required to appear before the Senate for questioning and screening. Ahead of his Senate hearing, he disclosed significant financial holdings in a report to the Office of Government Ethics, released on March 25.
Along with his wife, Sarah Humphreys, Atkins reported combined employment assets of at least $327 million.
His personal holdings include up to $78.8 million, with approximately $6 million in equity in Anchorage Digital (a crypto custodian), call options in Securitize (valued between $250,001 and $500,000), and a stake in Off the Chain Capital (valued between $1 million and $5 million).
He also disclosed a membership interest worth between $25 million and $50 million in an undisclosed entity, as well as up to $100,000 in Pontoro, a fintech company.
Atkins’ crypto investments have drawn criticism. In response, he pledged in an ethics agreement to resign as CEO of Patomak, sell his Securitize stock options, and divest from Off the Chain Capital within 120 days of confirmation. He had already stepped down from Securitize’s board in February 2025.
His confirmation hearing before the Senate Banking Committee on March 27, 2025, has sparked intense debate. Supporters, including crypto advocates and Republican lawmakers like Wyoming Senator Cynthia Lummis, praise his commitment to regulatory clarity for digital assets.
Critics, led by Senator Elizabeth Warren, argue that Atkins’ record contradicts the SEC’s core mission.
Warren has accused him of opposing financial regulations and raised concerns about his ties to crypto firms, including FTX. Consumer advocates, such as Bartlett Naylor of Public Citizen, have labeled him a “promoter of scams” like Bitcoin.
Despite opposition, Atkins is expected to be confirmed, given the Republican Senate majority (53-47 as of 2025). His allies, including current SEC Commissioners Hester Peirce and Acting Chair Mark Uyeda, support his nomination. If confirmed, he will succeed Uyeda, who has led the SEC since Gensler’s departure.
Atkins has a long background in law, finance, and regulatory policy. A former SEC Commissioner (2002–2008), he later founded Patomak Global Partners, advising financial firms, including crypto businesses. He has been a strong advocate for digital assets, co-chairing the Token Alliance and advising crypto firms like Securitize.
