Trump's SEC Nominee Atkins Discloses $327M Assets, $6M in Crypto

Paul Atkins, a nominee by Donald Trump to lead the Securities and Exchange Commission (SEC), has disclosed that he and his wife possess combined assets valued at a minimum of $327 million, with up to $6 million invested in cryptocurrencies. This revelation comes ahead of his confirmation hearing with the U.S. Senate Banking Committee.

In addition to his crypto holdings, Atkins has equity investments in two crypto companies, totaling up to $1 million, and up to $5 million in a crypto investment fund. These financial ties to the crypto industry contrast sharply with his predecessor, Gary Gensler, who was known for his critical stance on the sector.

According to a financial disclosure released by the U.S. Office of Government Ethics on March 25, Atkins and his wife, Sarah Humphreys, hold assets worth up to $327 million, primarily from their stakes in Atkins’ consulting firm, Patomak Global Partners, and Tamko Building Products. The highest disclosed estimates suggest their combined assets could exceed $588 million.

Atkins’ crypto investments include equity in several firms, such as up to $500,000 each in Anchorage Digital and the tokenization platform Securitize. He also has investments ranging from $1 million to $5 million in Off the Chain Capital, a crypto-focused fund where he serves as a limited partner. Notably, Atkins does not hold any Bitcoin, but his financial ties to the crypto industry are significant, especially as the SEC reassesses its approach to the sector.

Atkins has committed to resigning as CEO of Patomak within 90 days of his confirmation and plans to sell his equity stake in Securitize and step down from his position with the Chamber of Digital Commerce’s Token Alliance. These actions are aimed at avoiding any potential conflicts of interest. Atkins previously served as an SEC commissioner from 2002 to 2008.

Atkins’ financial disclosure was made public before his scheduled appearance before the Senate Banking Committee on March 27. Senator Elizabeth Warren, the top Democrat on the committee, has requested that Atkins be prepared to address questions about his close ties to FTX and other high-paying crypto clients.

Other officials from the Trump administration have also taken steps to mitigate any appearance of conflicts of interest. For instance, David Sacks, Trump’s AI and crypto czar, filed a notice on March 5 indicating that his venture capital firm sold more than $200 million in crypto and related stocks ahead of assuming his role.

Trump has faced criticism from lawmakers and figures in the crypto industry for his family’s involvement with World Liberty Financial and the launch of his memecoin in January. These developments highlight the complex interplay between political appointments, financial disclosures, and the evolving landscape of the crypto industry.