The post Paul Atkins Discloses $327M Assets, $6M in Crypto Ahead Of Senate Hearing appeared first on Coinpedia Fintech News
Paul Atkins, nominated by former President Donald Trump to lead the SEC, has revealed that he and his wife have combined assets worth at least $327 million with up to $6 million in crypto investments. This comes ahead of his upcoming confirmation hearing with the U.S. Senate Banking Committee.
He holds as much as $1 million in equity in two crypto companies, and up to $5 million in a crypto investment fund, according to an ethics disclosure. These holdings, along with Atkins’ pro-crypto policy stances, stand in marked contrast to Gary Gensler, who was a staunch critic of the industry.
Combined Assets Could Exceed $588M
As per a financial disclosure released by the U.S. Office of Government Ethics on March 25, Paul Atkins and his wife, Sarah Humphreys, hold up to $327 million in assets, mainly from their stakes in Atkins’ consulting firm, Patomak Global Partners, and Tamko Building Products. Notably, their combined assets could exceed $588m based on the highest disclosed estimates.
Atkins holds equity in several crypto firms, including up to $500,000 each in Anchorage Digital and the tokenization platform Securitize. He also has between $1 million and $5 million invested in Off the Chain Capital, a crypto-focused fund where he’s a limited partner.
Although he doesn’t hold Bitcoin, the disclosure highlights Atkins’ strong financial ties to the crypto industry, especially as the SEC rethinks its approach to the sector.
Atkins to Resign from Patomak, Sell Stake In Securitize To Avoid Conflicts
Atkins has pledged to resign as CEO of Patomak within 90 days of his confirmation. He also plans to sell his equity stake in Securitize and step down from his position with the Chamber of Digital Commerce’s Token Alliance, all to avoid any conflicts of interest. He was an SEC commissioner from 2002 to 2008.
Atkins’ financial disclosure was made public before his March 27 appearance before the Senate Banking Committee. Senator Elizabeth Warren, the top Democrat on the committee, asked Atkins to be ready to answer questions about his close ties to FTX and other high-paying crypto clients.
David Sacks Sold Over $200M in Crypto
Meanwhile, Other Trump administration officials have taken steps to mitigate any appearance of conflicts of interest. David Sacks, Trump’s AI and crypto czar, filed a notice on March 5 suggesting 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.