The new Chair of the U.S. Securities and Exchange Commission (SEC) reportedly has a crypto portfolio worth millions of dollars.
According to a new report from Fortune, an ethics disclosure reveals that Paul Atkins – President Donald Trump’s nominee to be the next SEC Chair – holds about $6 million in crypto-related investments, including $1 million worth of equity in two crypto firms and $5 million in crypto investment funds.
Atkins, who previously served as the SEC’s Chair between 2002 and 2008 under then-President George W. Bush, held a board seat on Securitize – a tokenization firm backed by asset management giant BlackRock – and owned between $250,000 and $500,000 worth of call options in the company, according to the report.
He also held between $250,000 and $500,000 in equity in crypto bank Anchorage Digital and between $1 million and $5 million worth of staked crypto on Off the Chain Capital, an investment fund of which he is a limited partner.
In the ethics agreement, Atkins agreed to divest his holdings after his confirmation, which is slated for Thursday.
According to Bloomberg, Atkins and his spouse have a net worth of at least $327 million.
Under the helm of its previous Chair, Gary Gensler, the SEC waged war on the digital assets industry by accusing several high-profile crypto firms, including Ripple Labs, Binance, Coinbase, and Consensys, of violating securities laws. Gensler also deemed many crypto assets, including smart contract platforms Ethereum (ETH) and Solana (SOL), as securities that fell under the agency’s regulatory jurisdiction.
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