7 days ago
The U.S. Senate has officially confirmed Paul Atkins as the new Securities and Exchange Commission (SEC) chair. This is after his nomination was cleared in a 52-44 Senate vote on Wednesday, April 9. Details From The Confirmation The confirmation of the former Wall Street consultant comes after U.S President Donald Trump named him to lead the agency in December of last year. “We welcome Paul Atkins as the next Chairman of the SEC. A veteran of our Commission, we look forward to him joining with us, along with our dedicated staff, to fulfill our mission on behalf of the investing public,” said the financial watchdog’s commissioners in a statement. Senate Banking Committee Chairman Tim Scott expressed confidence that Atkins would continue the SEC’s crypto-friendly approach under the Trump administration. He added that his experience would help roll back Biden-era policies, boost capital formation, support retail investors, and bring regulatory clarity to digital assets to keep U.S. markets competitive. Senator Cynthia Lummis voiced similar support, expressing confidence that his leadership would improve rulemaking for the crypto industry. Atkins is set to replace Mark Uyeda, who has been serving as the acting SEC chair since January 20 following the resignation of Gary Gensler. Since Gensler stepped down in January 2025, under Uyeda, the SEC has eased its approach to crypto enforcement. The agency has closed multiple investigations involving crypto firms, formed a Crypto Task Force, and reversed several previous rules that had imposed restrictions on digital assets. A Crypto-Friendly Approach Atkins is expected to adopt a more favorable stance on crypto regulation in line with the Trump administration’s efforts to lower regulatory hurdles and strengthen the domestic digital asset industry. In a testimony before the Senate Banking Committee last month, the 66-year-old named the creation of a digital asset regulatory framework as a “top priority.” He criticized the existing lack of clear guidelines, arguing it causes confusion and suppresses innovation. The official also committed to working with Congress and SEC commissioners to build rules that balance investor protection with innovation. The new chair also brings extensive experience in the crypto space. He founded Patomak Global Partners in 2009, a consultancy whose clients include traditional banks, crypto exchanges, and DeFi platforms. From 2017 to 2024, he co-led the Token Alliance, which advocated for crypto-friendly policies. He also served as an SEC Commissioner from 2002 to 2008. The post US Senate Approves Paul Atkins as New SEC Chairman appeared first on CryptoPotato .
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Russia Paves Way for Using Digital Ruble in National Budget Disbursements
According to Russian authorities, the necessary steps for allocating budget funds using the digital ruble have already been completed, enabling the CBDC to be utilized for these disbursements. The Ministry of Finance has also prepared subsidies for an upcoming test. Digital Ruble on the Verge of Being Used for Budget Disbursements in Russia While the Crypto Potato
3 Reasons a Shiba Inu (SHIB) Rally May Be Closer Than You Think
TL;DR Shiba Inu (SHIB) may be struggling now, but key indicators point to a potential comeback rally ahead. One of the factors is the burn rate explosion on a 24-hour scale. Ready for Liftoff? Despite its brief price increase towards the end of March, SHIB has been on an evident decline in the past 30 days. Currently, it trades at around $0.00001192 (per CoinGecko’s data), representing a 5% drop for the timeframe. SHIB Price, Source: CoinGecko However, some essential factors suggest a surge could be just around the corner. SHIB’s burn rate, for instance, has exploded by almost 2,000% in the last 24 hours, resulting in over 17.6 million tokens sent to a null address. Interestingly, a single transaction from a mysterious entity contributed to over 90% of the destroyed stash. The ultimate goal of the mechanism is to reduce the tremendous circulating supply of SHIB, thus potentially making it more valuable. Burning alone, though, doesn’t guarantee a stable price increase as it also requires a consistent or rising demand. Next on the list of possible price catalysts is the advancement of Shibarium. In the past weeks, daily transactions processed on the layer-2 blockchain solution have skyrocketed above three million, signaling strong user engagement and increased activity within the ecosystem. Shibarium supercharges the Shiba Inu ecosystem – slashing fees, speeding up transactions, and burning SHIB along the way . As such, some believe its evolution could ignite fresh momentum for the price of the underlying token. Among the examples is the popular Bitcoin advocate Jeremie Davinci, who said : “I like Shiba Inu, as you know, and I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it’s a chain that you can actually run all kinds of applications. However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved , Shiba Inu will go to the moon.” Exchange Netflows SHIB’s exchange netflow is also worth observing. Outflows have been dominating inflows lately, suggesting holders are moving tokens off centralized platforms and into self-custody. This development could be considered bullish since it reduces the immediate selling pressure. Generally, when investors transfer their crypto holdings to exchanges, it is to dispose of them, and vice versa. SHIB Exchange Flows. Source: CryptoQuant The post 3 Reasons a Shiba Inu (SHIB) Rally May Be Closer Than You Think appeared first on CryptoPotato . Crypto Potato
