XRP and ADA lead the old coin rise since the new SEC boss promised the regulatory transition
- The cryptoma markets have been increasing since Paul Atkins’s appointment as SEC boss signaled the change into a clear, rule-based control of the crypto industry.
- Bitcoin, XRP, ADA and SUI recovered after the change at the head of the authority, since investors now expect a positive regulatory environment in principle.
This week, a wave of optimism was spreading in the industry after Paul Atkins was sworn in as the new chairman of the US stock exchange supervision SEC. The growth, which many viewed by many in the industry as a turn of the regulation, fell together with a broad market rally, which was listed by double -digit growth of the token XRP, ADA and SOL. Bitcoin also rose sharply and reached $ 93,500.
During the official swearing ceremony, President Donald Trump described Atkins as the perfect person for the management of the authority and emphasized his commitment to a fair and balanced supervision of the crypto industry. Trump emphasized that the regulation of the digital assets under the new management would have top priority. He was confident that Atkins would correct the “power abuse” of the SEC under the previous government.
In his statement, Atkins outlined a clear vision for regulating the industry:
“One of the top priorities of my chair will be to create a solid regulatory basis for digital assets through a rational, coherent and principal approach.”
He also promised to keep politics out of the enforcement of securities regulations and to establish the United States as the safest and best-supporting environment for crypto innovations.
Atkins has a history of engagement in the crypto area. In 2017, he was the co-chair of the TOKEN Alliance, an initiative led by industry to promote the introduction of digital currencies and to determine standards. Before her collapse, he also offered various blockchain companies regulatory advice, including the now set Börse FTX.
Industry reacts positively and wants to support
Important actors in the cryptom market have expressed a positive statement about the decision to appoint Atkins. To confirm this, Michael Saylor, CEO of Strategy, tweeted that the leadership of Atkins would promote Bitcoin. Saylor justified his optimism with the experience of the new SEC boss in the regulation of digital assets.
SEC Chairman Paul Atkins will be good for Bitcoin. pic.twitter.com/E4SjdCqWBE
— Michael Saylor (@saylor) April 22, 2025
Mitchell Diraimondo, founder of Steelwave Digital, described Atkins as “the clarity we need now”. At the same time, the Fio Protocol team noted that the appointment could be a turning point for the reputation of Bitcoin at the Sec.
This change may already be underway. Before the appointment of Atkins, the previous incumbent chairman had made some other regulatory changes, such as the establishment of the Task Force for virtual currencies led by Commissioner Hester Peirce. The Task Force has held two public sessions and is planning a third meeting with experts for April 25 who deal with the custody of cryptocurrencies.
Market reacts with new optimism
In this way, investors also spoke out for a change of leadership. Bitcoin now crossed $ 93,000, ETH rose by over 14%, and Ada followed. XRP attracted the most attention due to reports about a positive change in regulation. It was admirable compared to the other large cap tokens, BNB and Sol. As for Memecoins, Dogecoin (Doge) and Shiba Inu (Shib) achieved more than 11% of the profits.
The Sui Network Sui token grew 30%, which is due to the general market forces and the increasing general demand for more risky assets.
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