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🌙 Trump Picks Crypto-Friendly Paul Atkins To Lead SEC

The turmoil was triggered by President Yoon Suk Yeol’s decision to declare emergency martial law.

Author

Mike Gavela
December 04, 2024

In partnership with

Crypto Roundup - December 4

President-elect Donald Trump has nominated Paul Atkins, a proponent of cryptocurrency and former SEC commissioner, to lead the Securities and Exchange Commission (SEC). This nomination signals a potential shift towards more crypto-friendly regulations, contrasting with the stringent measures under current chair Gary Gensler. In a related development, Alex Mashinsky, founder of the now-bankrupt crypto lender Celsius Network, pleaded guilty to commodities and securities fraud. He admitted to deceiving investors about the company's financial health and manipulating the value of its digital token, CEL, for personal gain, leading to significant investor losses. Meanwhile, the decentralized finance (DeFi) sector has reached a milestone, with the total value locked (TVL) in DeFi protocols surpassing $200 billion, indicating substantial growth and increased adoption of decentralized financial services.

Top Stories

  • President-elect Donald Trump has nominated Paul Atkins as SEC chair, indicating a potential shift towards more crypto-friendly regulations.

  • Celsius Network founder Alex Mashinsky pleaded guilty to commodities and securities fraud, admitting to deceiving investors and manipulating the company's digital token for personal gain.

  • The decentralized finance sector has surpassed $200 billion in total value locked, reflecting significant growth and adoption of decentralized financial services.

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TOP STORIES

Trump picks crypto backer Paul Atkins as new Securities and Exchange Commission chair

Trump picked Atkins, a former SEC commissioner, to head the agency. Known for his support of cryptocurrencies, Atkins could help shape regulations for the industry.

www.npr.org/2024/12/04/g-s1-36803/trump-crypto-paul-atkins-sec-chair

Celsius Founder Alex Mashinsky Pleads Guilty to Fraud

The founder of crypto lender Celsius has admitted to lying to customers about how their money would be used and manipulating markets for his personal gain.

www.wired.com/story/celsius-founder-alex-mashinsky-pleads-guilty-to-fraud-crypto-celsius

DeFi TVL Soars To Record High Above $200B - "The Defiant"

The combined TVL of DeFi protocols is at a new high of $201.3 billion after surging 82% in three months.

thedefiant.io/news/markets/defi-tvl-soars-to-record-high-above-usd200b

FUNDRAISING

OTHER HEADLINES

Fireblocks Reveals 150% Annual Increase In Institutional DeFi Transactions - "The Defiant"

Fireblocks’ institutional users executed more than $60 billion worth of DeFi transactions in 2024 so far.

thedefiant.io/news/defi/fireblocks-reveals-150-annual-increase-in-institutional-defi-transactions

Bybit CEO claims Chinese users can bypass restrictions with VPN

Bybit's CEO noted that Chinese users can use a VPN to access the exchange and noted the company hopes to reapply for a Hong Kong license.

protos.com/bybit-ceo-claims-chinese-users-can-bypass-restrictions-with-vpn

A crypto CEO’s warning to law firms 

Brian Armstrong called out the hire of Gurbir Grewal, who had been the SEC’s enforcement division director since 2021.

blockworks.co/news/brian-armstrong-advice-to-law-firms

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