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Trump nominates cryptocurrency advocate Paul Atkins as SEC chair

President-elect Donald Trump announced Wednesday that he intends to nominate cryptocurrency advocate Paul Atkins to chair the Securities and Exchange Commission. Trump said Atkins, the CEO of Patomak Partners and a former SEC commissioner, was a “proven leader for common sense regulations.” In the years since leaving the SEC, Atkins has made the case against too much market regulation.

Why Some of the Market's Favorite Altcoins Were Soaring Today

Since the U.S. presidential election, it's been something of a given among crypto-heads that the incoming administration will be relatively more favorable to their beloved industry. While Trump's Republican party has a thin majority in the Senate, the body that confirms the SEC chair nominee, it is nevertheless a majority. Plus, Atkins has significant experience in both the business and regulatory realms and isn't a particularly controversial pick -- in contrast to several of Trump's cabinet hopefuls.

Could This Be the Day Bitcoin Cracks $100,000?

Financial professionals like to talk of "psychologically important" price levels for securities. Before we discuss that, let's do a little tour of recent Bitcoin history. If we cast our imaginations back to the long-ago, dark days of December 2023, Bitcoin was sailing along at about the low $40,000s.