Paul Atkins, President Donald Trump’s nominee to lead the U.S. Securities and Exchange Commission (SEC), disclosed a combined total of at least $327 million in assets with his wife, Sarah Humphreys, before his confirmation hearing on March 27.
He also holds between $1 million and $5 million in Off the Chain Capital, a crypto investment firm where he’s a limited partner, according to Fortune.
This disclosure, made public by the U.S. Office of Government Ethics, sheds light on Atkins’ financial holdings, including stakes in his consulting firm Patomak Global Partners and Tamko Building Products, a roofing company controlled by Humphreys and her family.
Atkins, who served as an SEC commissioner from 2002 to 2008, reported significant assets. These include up to $50 million in membership interest at Patomak and between $250,000 and $500,000 in options at Securitize, a leading tokenization platform.
If confirmed, Atkins has committed to resigning as Patomak’s CEO and divesting his membership interest and stock options. His financial ties are likely to be a focus during his Senate Banking Committee hearing.
Senator Elizabeth Warren has already stated that she will question him about his association with FTX and other crypto clients. However, some Republicans, such as Senator Cynthia Lummis, have faith in Atkins to give direction to the cryptocurrency industry.
Atkins’ confirmation is a crucial move to fill the position left vacant by the former SEC Chair Gary Gensler, with Mark Uyeda currently acting as the chair of the agency.
This nomination may have a great impact on the further development of the cryptocurrency regulation in the United States.
Also Read: Has the SEC under Trump asked to look the other way on Crypto?
