Congrats Mr. President (Trump Orange-Pilled and Richer) But how does this affect Bitcoin, America and Americans?

👀 TLDR 🪟

Trump’s officially in the Oval Office – the wait is over but is America going to be “World Capital of AI and Crypto”.
Bitcoin hits $109K, and Trump calls it the “Trump Effect”!
Bitcoin surpasses Saudi Aramco, becoming the 7th largest asset globally, with a market cap of $2.1 trillion.
Iris Energy to raise $1B for expansion; Canaan reports 4.75 EH/s hashrate; Petrobras explores Bitcoin mining; Argo CEO steps down; Riot halts expansion for AI; NYDIG invests in Coinmint; Phoenix Group expands in Africa; Quantum Blockchain boosts mining efficiency by 30%; Bitdeer partner with TSMC for Arizona ASIC production; Congrats IREN, CLSK, & RIOT, top 3 hashrate growers in 2024, respectively.
The Bitcoin flare war between Cruseo and Upstream data is over with minor wins for all parties.
DARI study shows Bitcoin mining saves Texas $18B!
Wyoming, Arizona, Massachusetts, Utah propose Bitcoin reserves; Kansas seeks 10% pension fund in Bitcoin ETFs; El Salvador adds 12 BTC; MicroStrategy buys 11,000 BTC; Thailand launches BTC payments in Phuket; Hong Kong plans crypto licenses
Department of Government Efficiency (DOGE) website goes live.
Trump announces $500B initiative to boost U.S. Datacenter infrastructure; signs executive order banning CBDC creation, creates working group for digital asset regulations; Ross Ulbricht pardoned and freed; Trump appoints Uyeda as acting SEC chair; SEC forms crypto task force under Peirce, Lummis leads Subcommittee; $TRUMP and $MELANIA coins launch, soar, then crash post-inauguration.
SEC rescinds SAB 121, allowing banks to offer Bitcoin custody services.
How will Trump’s leadership shape the future of Bitcoin and AI?

For this week’s Hash & Cash Index, BTC price surges to $105,155 a 2.52% increase from last week. Market cap stays as above the $1T, settling at $ 1.944B (8.32% WoW). Hashprice sit at $60.81 USD/PH/day, a 2.01 % increase. The global hashrate increases by 0.17% to reach 789.81 EH/s. The current epoch’s difficulty is locked at 110.45 T. We’re at block 1663 of 2016 for this epoch. Block rewards decreases by 0.31%, settling at an average of 3.18 BTC per block. Fees in blocks settles to 1.63% showing an decrease of 19.31%. The average block time has increase to 10 minutes and 11 seconds. Source: Hashrate Index, Mempool, ONMINE.

🪄 Pool Power Tools 🎱

This week’s Pool reward index settles to 99.01%, a decrease from last week 0.79% with 18 active pools chipping away 998 blocks. The total miner reward over the last 144 blocks contracted to 456.89 BTC down 0.51% from last week , the dollar valuation of this rewards significantly increases to $48M (2.19% WoW). Average block fees are equal to 0.0478BTC/block down 25.54% Wow and estimated to be $5,045 per block. Transaction fee per Network transaction equate to 1.88k sats per transaction, costing around $1.99 per transaction on the Bitcoin network over the last 144 block. Source: Mempool, ONMINE.

In this week’s 1008 block mining pool race, Foundry USA remains at the forefront, with a total reported hashrate of 246.58 EH/S, clinching 314 blocks. ANTPOOL continues to challenge, harvesting 183 blocks with 143.71 EH/S. F2Pool and ViaBTC are neck and neck in the hashrate hustle, grabbing 135 and 140 blocks, respectively. Luxor staying in the top ranks, with a hashrate of 14.14 EH/S and manages to secure 18 blocks over the last week. Source: Mempool, ONMINE.

💰 Iris Energy (IREN) plans to raise up to $1 billion through an equity offering to expand its Bitcoin hashrate to 57 EH/s by mid-2025, with 50 EH/s on track for the first half, supported by its 750 MW mine in Childress, Texas.

⚡ Canaan has reported a global energized proprietary hashrate of 4.75 EH/s, with 84% of this capacity located in Ethiopia.

💹 Northern Data hit 6.65 EH/s in Q4’24, earning €32M from Bitcoin mining.

🧰 Hard-Ware & Hosting Index ⚙

🖥️ A datacenter project outside Austin, Texas, now appears to be a Bitcoin mining facility, with recent shipments of Bitmain cooling containers.

🇧🇷 Petrobras, Brazil’s state-owned oil giant, is exploring Bitcoin mining.

🔽 Argo Blockchain CEO, Thomas Chippas, will step down on February 28, 2025, as the company faces ongoing Bitcoin mining challenges.

🏢 Riot Platforms has halted the 600 MW Bitcoin mining expansion at its Corsicana facility in Texas to pursue AI/HPC opportunities.

💡 Lip-Bu Tan, ex-Intel board member, joins Bitcoin chip designer Auradine as a board director, bringing 40 years of experience.

💼 The Digital Assets Research Institute (DARI) conducted a study showing Bitcoin mining’s positive impact on the Texas electrical grid, saving the state $18 billion.

⚡ Quantum Blockchain Technologies (QBT) claims its AI Oracle improves Bitcoin mining efficiency by 30%.

🔋 NYDIG boosts its Bitcoin mining operations through a strategic investment in Coinmint, while facing a lawsuit from Mintvest over a $200M acquisition.

🌎 Phoenix Group is expanding into Africa’s Bitcoin mining sector by acquiring an 80-megawatt (MW) power purchase agreement (PPA) in Ethiopia.

📜A landmark legal battle in Bitcoin mining ended in a split decision, with the USPTO ruling that Crusoe Energy proved natural gas-powered Bitcoin mining is unpatentable, but Upstream Data’s design-specific patents remain valid.

🚨 45 Malaysian homeowners and businesses face $1.9M in power bills after their identities were stolen for illegal Bitcoin mining; fraudsters used fake identities to open utility accounts.

🔧TSMC is set to begin chip production for Bitdeer at its Arizona facility in the U.S. this quarter, as reported by Tim Culpan, a former Bloomberg columnist.

😊 Public Bitcoin mining companies accounted for over 35.26% of the Bitcoin Network’s hash rate by the end of 2024, up from 21% in 2023, driven by ASIC upgrades, data center expansions, and acquisitions. Leading 2024 growth were Iris Energy (+453.57%), CleanSpark (+262.04%), and Riot Platforms (+154.03%), with MARA, CLSK, and IREN surpassing their annual expansion targets.

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🤖 President Trump announces a $500 billion private-sector initiative to boost U.S. AI infrastructure and growth.

💼 MicroStrategy buys $47M in Bitcoin, citing the 47th President after Trump’s inauguration.

🚀 Microstrategy shareholders approve a major increase in authorized shares, raising the total from 330 million to 10.3 billion to boost Bitcoin acquisitions.

🚨 $800M worth of Bitcoin has been mysteriously transferred.

🎉 MARA commemorated President Trump’s inauguration by embedding his portrait into a BTC block ahead of the event.

🇺🇸 Trump’s crypto project shows he and his family may receive 75% of net revenue.

🇺🇸 Wyoming becomes the 7th state to propose a Bitcoin reserve.

🇺🇸 Arizona becomes the 10th state to propose a Bitcoin reserve with Senator Wendy Rogers’ bill.

🇺🇸 Massachusetts proposes a Bitcoin reserve, capping investments at 10%.

🇺🇸 Utah introduces a bill to support future Bitcoin investments.

🇺🇸 Kansas Senator proposes 10% pension fund investment in Bitcoin ETFs.

🇸🇻 El Salvador buys 12 more BTC for its reserve, despite IMF deal.

🇹🇭 Thailand launches Bitcoin payments in Phuket, targeting war-affected foreigners and online workers.

🇭🇰 Hong Kong regulators plan to issue new crypto trading platform licenses by early 2025.

🇨🇳 CryptoQuant CEO claims China sold 194,000 Bitcoin.

🚨North Dakota’s bill seeks to regulate crypto ATMs, mandating fraud warnings, operator licenses, and transaction limits to prevent scams.

The Bitcoin Treasury Index for this week steady reflecting a stable grip on holdings, with 75 companies increasing their trove to precisely 2,920,422.14 BTC. Government also join the bitcoin standard with 7 countries holding 529,192.0 BTC. The value locked in these treasuries for Companies and Government tells a different story swelling to a robust $303.62B and $55.02B, respectively. A total of 13.907% all Bitcoins are held in corporate treasuries, while government holds 2.520 % of all Bitcoins, reinforcing the sentiment of a consolidating market among institutional & Government participants. Source: NewHedge, ONMINE.

🇺🇸 President Trump appoints Mark Uyeda as acting SEC chair.

📜 SEC forms crypto task force under Commissioner Peirce to establish clear regulations.

💰 Critical Metals Corp becomes the first Nasdaq-listed critical minerals company to adopt Bitcoin as a primary treasury asset, securing up to $500 million for Bitcoin purchases.

💼 Bank of America CEO says U.S. banks are ready for crypto payments with regulatory approval.

💰 BTCPay Server receives a $25K Bitcoin grant from Unbank.

💥 Rumble enters the crypto market with its first Bitcoin purchase.

💸 KULR Technology increases its Bitcoin Treasury by $8 million, bringing its total to $50 million and holding 510 BTC.

💰 World Liberty Financial invests $103 million to diversify its crypto portfolio.

🌍 Bitstamp plans to launch regulated crypto derivatives trading in Europe.

🚀 Coinbase CEO envisions Bitcoin reaching “multiple millions” in value, establishing itself as the new gold standard.

🤝 True I/O and OroBit partner to transform blockchain financial solutions with Bitcoin Layer 2 and supply chain tools.

🤝 Cathedra Bitcoin announces a new partnership with Synota Inc. to automate payments for C&I energy and hosting contracts, reducing financial risk and ensuring consistent cash flow.

🔗Wintermute partners with TRON DAO to enhance liquidity and improve global DeFi accessibility.

🚀 Applied Digital raises $5 billion in perpetual preferred equity financing for its HPC business from Macquarie Asset Management.

🚨 Silk Road founder Ross Ulbricht is free after receiving a presidential pardon from Trump.

💸 $47M Bitcoin wallet linked to Silk Road founder resurfaces after a decade.

🐕 The U.S. Department of Government Efficiency (DOGE) website goes live, featuring the Dogecoin logo, as DOGE’s price jumps 10% from $0.35 to $0.38, pushing its market cap to $56.5 billion.

💼 Senator Cynthia Lummis has been appointed chair of the Senate Banking Subcommittee on Digital Assets.

🚀 Blockstream has introduced Blockstream Asset Management (BAM) alongside the Income Fund and Alpha Fund, debuting in Q1 2025.

⏸️ THORChain paused BTC and ETH withdrawals for 90 days to address debts and avoid insolvency risks.

📉 Semler Scientific shares dropped 15% after announcing an $85M convertible note offering to boost Bitcoin holdings.

🎬 End Notes 🎤

🚀 On January 20, 2025, Bitcoin reached a record high of above $109,000, driven by investor optimism following the inauguration of U.S. President Donald Trump. However, the absence of immediate pro-cryptocurrency measures caused a price correction, with Bitcoin dropping to $102,546.13 by January 21.

🌟 Despite no mention of cryptocurrency in his inauguration speech, President Trump took swift action days later. He signed the executive order titled “Strengthening American Leadership In Digital Financial Technology,” banning the creation of a central bank digital currency (CBDC) and establishing a working group to create a regulatory framework for digital assets, including a potential national digital assets stockpile.

🚀 President Donald Trump has announced to Davos Globalists his plan to make the United States the “World Capital of Artificial Intelligence and Crypto.”

💡 The launch of the $TRUMP and $MELANIA meme coins on January 17, 2025, generated significant excitement within the cryptocurrency market, with the $TRUMP coin soaring to $75 per token and the $MELANIA coin peaking at $13.73. However, the momentum quickly faded after President Trump made no cryptocurrency-related announcements on his first day in office. The $TRUMP coin dropped from $70 to $35, and its market capitalization fell from $15 billion to $7.8 billion.

A wallet associated with the Trump team, holding 80% of the $TRUMP meme coin supply.

TRUMP Coin made a splash, jumping 55% within 24 hours of launch, while MELANIA Coin soared a massive 2000% right after debuting.

Source: CoinGecko

🪙REX Shares and Osprey Funds have petitioned the SEC to approve ETFs based on the TRUMP coin, Dogecoin and Bonk Inu, offering investors a traditional way to invest in these digital assets

.💰 The SEC has rescinded SAB 121, which previously required banks to treat customer-held crypto as liabilities, paving the way for financial institutions to offer Bitcoin custody services.

👍 80% of short-term holders (STHs) are now in profit following Bitcoin’s recovery above $100,000, according to Checkonchain data.. After a 10% price swing on January 20, Bitcoin (BTC) remained above $100,000 for six consecutive days. Earlier in the month, the STH supply in loss had dropped to 65%. While returning to profitability typically reduces panic selling, analyst Darkfost from CryptoQuant cautioned that the short-term holders’ spent output profit ratio (STH-SOPR) is turning negative, signaling that some STHs are selling their BTC at a loss despite clear technical support above $95,000.

Bitcoin short-term holder % in profit. Source: X.com

As illustrated in the chart, STH holders have experienced prolonged periods of loss in 2024. It’s important to note that while the STH supply in loss can be high, the unrealized value remains intact if holders choose not to sell. The data suggests that despite the rise in STH profitability over the past week, some panic selling is starting to creep in among holders.

🌟 Bitcoin is soaring to new heights, and so is the entire crypto market! With $2.2 billion in weekly inflows, the crypto market has hit a new milestone, pushing year-to-date inflows to $2.8 billion and assets under management (AUM) to a record-breaking $171 billion. Bitcoin, the star of the show, led the charge with a nearly 20% jump, reaching an all-time high near $110,000, fueling a significant increase in AUM.

Spot Bitcoin ETFs, from major financial institutions like BlackRock, Fidelity, Ark Invest, and Bitwise, attracted over $2.1 billion in inflows, signaling a strong vote of confidence in Bitcoin as the market anticipates favorable regulatory policies from the new administration. As institutional interest continues to grow, Bitcoin’s dominance in the crypto space only becomes more pronounced, further solidifying its role as the market leader.

Chart Showing Crypto ETF Providers Flows. (Source: CoinShares)

Short-Bitcoin products saw $500,000 in inflows, while Ethereum gained $246 million. XRP led with $31 million in inflows, totaling $484 million since November. Stellar saw $2.1 million, with other altcoins showing minimal activity. Chart Showing Crypto Asset Flows. (Source: CoinShares)

Source : SoSoValue

💰 Bitcoin reaches a market cap of $2.104 trillion, surpassing Saudi Aramco to become the world’s 7th largest asset, outpacing companies like Meta and Tesla, as well as commodities like silver. As BTC gains institutional adoption and recognition as “digital gold,” speculation grows over its potential to rival gold’s $18 trillion market cap. This explosive rally signals Bitcoin’s rise as a global asset, challenging traditional finance and paving the way for a shift in how wealth is stored.

🔥As President Trump forms his cabinet for his second term, several of his nominees are drawing attention for their connections to the cryptocurrency world. Here’s a closer look at some of these key figures and how their involvement with cryptocurrency might impact the future of digital assets in the U.S. government.

1. Sean Duffy

Trump’s nominee for Secretary of the Department of Transportation, Sean Duffy, stands out as the biggest Bitcoin holder among the cabinet picks. He owns between $500,000 and $1 million in Bitcoin, along with investments in Solana, Litecoin, and Lido Staked Ether. Duffy’s total crypto assets range from about $570,000 to $1.2 million. A former consultant for Robinhood, which allows crypto trading, Duffy’s involvement shows a clear bullish stance on cryptocurrency.

2. Scott Bessent

Trump’s pick for Treasury Secretary, Scott Bessent, is a crypto supporter. He holds between $250,000 and $500,000 in BlackRock’s spot Bitcoin ETF. Despite his crypto holdings, Bessent plans to divest them after confirmation, but his support for Bitcoin indicates an openness to digital assets at the highest levels of government.

3. John Ratcliffe

While John Ratcliffe, nominated to head the CIA, doesn’t have significant crypto holdings, he is not new to the crypto world. Ratcliffe has served on the advisory board for Paradigm, a major crypto venture capital firm. Although he plans to step down from this role after confirmation, his previous involvement highlights the growing influence of crypto in policy circles.

4. Tulsi Gabbard

Former congresswoman Tulsi Gabbard, who switched to the Republican Party, has made a significant mark in the crypto space. As Trump’s nominee for Director of National Intelligence, Gabbard holds between $31,000 and $115,000 in various cryptocurrencies, including Bitcoin, Solana, Ether, and Cronos. She also has investments in Bitwise’s Bitcoin ETF and plans to divest them after her confirmation. Her diverse crypto portfolio signals strong interest in the sector.

5. Russell Vought

Russell Vought, Trump’s pick to lead the Office of Management and Budget (OMB), has also shown an affinity for cryptocurrency. While his direct holdings haven’t been disclosed, Vought has been a vocal advocate for the adoption of digital currencies and their role in reshaping the U.S. economy. His position could potentially bring a favorable outlook for crypto policies at the government level.

While some cabinet members, like Gabbard, hold a diverse range of crypto assets, others, like Bessent, plan to divest their holdings after confirmation. Either way, Trump’s cabinet includes key figures with clear ties to the crypto world, suggesting that digital assets might continue to play a larger role in US policy moving forward.

🚨 $7.8B in Bitcoin options are set to expire on Jan. 31, with $6B expected to expire worthless; 50% of these are put options, and market makers might push BTC lower, currently above the max pain point of $98K, to maximize profits.

Bitcoin open interest by strike price (Deribit)

🔮With just a week left in January, Bitcoin is on track to close strong! The king coin is predicted to hit a high of $111,598 in the final days. By month’s end, CoinCodex forecasts Bitcoin to settle at around $110,686.

Disclaimer: The predictions and potential ROI shown are for informational purposes only and should not be considered financial advice. Past performance is not indicative of future results. Please conduct thorough research and consult a qualified financial advisor before making any investment decisions. OnMine is not liable for any losses resulting from the use of this information.

🤑 Top Tea 🫖

2025 will be the year of crypto consolidation — co-founder of EARN’M – Cointelegraph
Trump’s ‘America First Priorities’ exclude any mention of crypto, BTC – Cointelegraph
Circle CEO bullish on Trump’s crypto policy despite no mention during speech – CryptoSlate
OpenAI announces $500 bln ‘Stargate’ venture with Nvidia, Microsoft and Oracle – Investing
Democratic lawmaker says TRUMP coin represents the ‘worst of crypto’ – Cointelegraph
TRUMP is much more than a memecoin – Blockworks
Trump appoints crypto advocate Caroline Pham as CFTC acting chair – CryptoSlate
US Government Launches Official D.O.G.E. Website Using Dogecoin Logo As Avatar – The Daily Hodl
Bitcoin miners are flailing. Fidelity sees a fix – DL News
BREAKING: US Billionaire Mark Cuban Also Announces Memecoin Launch! The Madness Continues – Crypto News
Avalanche eyes US growth by harnessing AI and blockchain innovations – CryptoSlate
Sonic Labs Announces $250,000 Sonic DeFAI Hackathon in Partnership with DoraHacks and Zerebro- DL News
It’s Official – SEC Chairman Gary Gensler Resigns! Here is the Last Statement from SEC – Crypto News
Cardano’s Big Bet on Bitcoin DeFi and Chainlink Integration for 2025 – Crypto News
Bank of America says Fed should stop rate cuts —How will crypto react to Trump 2.0? – Crypto News
A.I., the Electricians and the Boom Towns of Central Washington – The New York Times
Google Searches for ‘How to Buy Crypto’ Skyrocket as Trump Flips the ‘Overton Window’ – Coindesk
Why bitcoin mining in the Middle East isn’t so hot – Blockspace
The Bullish Case for Bitdeer (Revisited) w/ Brandon Bailey – The Mining Pod
2025 Bitcoin Predictions And Projections With BitsBeTrippin – The Mining Pod
Hosting vs. Pureplay Mining and What Trump Means for BTC Mining w/ Cathedra Bitcoin and Kungsleden – The Mining Pod
Binance Labs rebrands to YZi Labs, expands focus to AI and biotech with CZ mentorship – CryptoSlate
Bitwise eyes first Dogecoin ETF amid rising crypto ETF interest – CryptoSlate
Bitcoin drops after Trump signs crypto and ‘national digital asset stockpile’ executive order – Cointelegraph
House Resolution Today Could Overturn Rule That Declares DeFi Projects ‘Brokers’ – Unchained
BlackRock CEO Larry Fink predicts Bitcoin will climb to $700k, says he’s a ‘big believer’ – CryptoSlate
North Korea hack group possibly behind $70 million Phemex exploit, experts say – The Block
Crusoe / Upstream Data Patent Ruling, Lancium’s Stargate Deal, and 2024 Year-in-Review – The Mining Pod
Will the US Drive G20 Nations to Adopt Bitcoin Reserves? – Watcher Guru
Building The Future of Payments With Taproot Assets – Bitcoin News

💉 Dopamine Hit 🕺🏻

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Bitcoin Whales Bought $11B of BTC in Two Weeks as Confidence Grew, Glassnode Says

While macroeconomic uncertainty and technical indicators raise doubts about bitcoin’s (BTC) recent gains, purchasing activity by some of the largest investors indicates a more optimistic outlook.
Since March 11, so-called bitcoin whales have snapped up over 129,000 BTC, worth $11.2 billion at the market price of $87,500, according to data tracked by blockchain analytics firm Glassnode.

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That’s the most significant accumulation rate since August 2024, indicating growing confidence in the largest cryptocurrency among the biggest market participants, Glassnode commented on X.
BTC has regained some poise, since reaching lows under $78K roughly two weeks ago. The recovery has been led by dovish comments from Federal Reserve and optimism that impending Trump tariffs on April 2 will be more measured than expected.

Glassnode’s analysis revealed that crypto whale addresses with over 10,000 BTC compensating for continued selling by small holders.

Bitcoin: Whale position change (30D) (Glassnode)
Other indicators, such as the “Bitcoin 1Y+ HOLD wave,” tracked by Bitbo Charts show a renewed upswing, indicating a shift to a holding strategy, as Wednesday’s edition of the Crypto Daybook Americas noted.

Trump SEC Pick Paul Atkins’ Crypto Ties Draw Sen. Warren’s Ire Ahead of Confirmation Hearing

Ahead of his confirmation hearing in front of the U.S. Senate Banking Committee tomorrow, Paul Atkins — President Donald Trump’s pick to lead the U.S. Securities and Exchange Commission (SEC) — disclosed having up to $6 million in crypto-related assets, prompting Sen. Elizabeth Warren (D-Mass.) to cry foul.

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In a Sunday letter to Atkins, Warren stressed that the former SEC commissioner’s background as a consultant and lobbyist for the financial industry could create “significant conflicts of interest” if he is confirmed.
“You also have served as an expert witness hired by Wall Street firms accused of engaging in Ponzi schemes and other misconduct that you would now be responsible for investigating as SEC Chair. Furthermore, you have served as a Board Advisor to the Digital Chamber, a registered lobbying group for the crypto industry. In these roles, you and your firm were paid by the same companies that you would now be responsible for regulating,” Warren wrote. “This will raise serious concerns about your impartiality and commitment to serving the public interest if you are confirmed to serve as the next SEC Chair.”

Warren urged Atkins to consider mitigating these potential conflicts of interest by recusing himself from any SEC matters involving his former clients, and agreeing not to do any lobbying, consulting or other work for any companies in the industry regulated by the SEC for at least four years after his departure from the agency. Her letter requests a written response from Atkins by Thursday.
Another letter, also dated Sunday, asked Atkins a series of questions about how he believed the cryptocurrency industry should be regulated, alongside other matters before the SEC’s purview.
Atkins’ recent financial disclosures revealed a $328 million family fortune, according to Reuters, largely stemming from his wife’s family ties to roofing supply giant TAMKO Building Products. His risk consultancy firm, Patomak Global Partners — though which Atkins has done consulting for a range of companies, both crypto and traditional finance, and from which he has promised to divest if confirmed — was valued at between $25 and $50 million, Reuters reported.
Atkins’ crypto-related assets were valued at up to $6 million, according to a report from Fortune, and include a combined $1 million in equity in crypto custodian Anchorage Digital and tokenization firm Securitize (Atkins held a board seat at Securitize until February). Atkins reported having up to a $5 million stake in the crypto investment firm Off the Chain Capital, where he is a limited partner. Off the Chain’s investments include private shares in big crypto companies like Digital Currency Group (DCG) and Kraken, as well as Mt. Gox bankruptcy claims.

In a Tuesday filing with the Office of Government Ethics, Atkins pledged to divest from Off the Chain Capital within 120 days of his confirmation. He has also resigned from his position on the board of the Digital Chamber of Commerce and the Token Alliance of the Chamber of Digital Commerce according to the same filing.
Atkins crypto ties are a stark contrast to his predecessor, former SEC Chair Gary Gensler, who was known for his so-called “regulation by enforcement” approach to crypto regulation. Ahead of Atkins’ confirmation, the SEC’s current leadership, spearheaded by Acting Chair Mark Uyeda and Commissioner Hester Peirce, have been overhauling the agency’s crypto regulation strategy, inviting industry players to roundtable discussions at the SEC’s headquarters in Washington, D.C. and backing down a considerable number of investigations and open litigation against crypto companies.
However, not everyone that the SEC went after under Gensler is off the hook — the agency has not yet shut its probes into Unicoin or Crypto.com, both of which received Wells notices (a heads up of forthcoming enforcement charges) from the SEC last year.
The SEC has shut down investigations into companies including Immutable, OpenSea and Yuga Labs, and ended litigation against companies like Coinbase, Kraken and Ripple since Uyeda took over the agency as acting chair.