The appointment of the new SEC Chairman is still pending, with the price of the related concept token experiencing a 50% intraday volatility.

Last night, RSR experienced a sudden 50.72% price increase, reaching $0.026, before quickly dropping to $0.019. The current RSR price is $0.023. The RSR-related meme coin, DTF, surged from $0.012 to $0.03, experiencing a short-term 235% increase before falling to $0.015 and now sitting at $0.023.

This was due to reports that Trump had chosen Paul Atkins as the next SEC chairman, who had previously served as an advisor to the RSR project. However, Atkins did not confirm this news, and reports emerged of his hesitant stance, causing a short-term sharp drop in related tokens.

Who is Paul Atkins?

Paul Atkins is a former SEC Commissioner during the George W. Bush administration, known for his opposition to "imposing hefty fines on companies that violate securities laws." He had previously opposed the Dodd-Frank Act, which aimed to strengthen federal regulatory powers after the 2008 financial crisis.

In 2016, Atkins played a key role in Trump's presidential transition team and significantly influenced Trump's laissez-faire attitude towards financial regulation.

Currently, Atkins continues to serve at his consulting firm, Patomak Global Partners, founded in 2009. Since 2017, he has also been co-chair of the Token Alliance, an industry association advocating for digital assets and the blockchain industry.

The connection to RSR arises from the community's discovery of Atkins' past advisory role in the project.

Meanwhile, Reserve founder Nevin Freeman explained that "Paul is currently not actively involved in advising Reserve; he was only an early advisor to the project. However, in our interactions, his open-mindedness impressed me, and his willingness to publicly serve as a Reserve advisor shows his commitment and support for the cryptocurrency space."

Therefore, when a news aggregation account referenced Unchained's report announcing Trump's selection of Atkins as the next SEC chairman, the price surged.

The original news article from Unchained stated: "According to three sources familiar with the matter, Trump has selected crypto-supporter Paul Atkins to serve as SEC Chairman. One source noted that Trump has been in touch with Atkins but is awaiting his formal acceptance of the appointment."

Less than twenty minutes later, another major news aggregation account, Watcher. Guru, released a statement saying, "Unable to confirm the rumors regarding President-elect Trump's selection of Paul Atkins as SEC Chairman. Currently, there has been no official statement from the Trump camp."

According to Coindesk, a source familiar with Atkins' thinking said that Atkins is hesitant about leaving his global consulting firm to clean up what he views as a poorly managed and bloated agency under the outgoing SEC Chairman Gary Gensler.

Following this, another major news outlet, Formula, released a notification stating that trader GCR had indicated in Discord that they had sold RSR a long time ago, although this specific message has now been deleted.

The trading news dissemination process described above led to a rapid surge and fall in RSR and DTF prices, fundamentally driven by the market's sentiment game based on the SEC Chairman outcome.

Currently, compliance prediction platform Kalshi's data shows that the probability of Paul Atkins becoming the next SEC Chairman has risen to 88%.

Earlier, FOX Business reporter Eleanor Terrett revealed that Trump is expected to announce his SEC Chairman successor today at the earliest. She stated that seasoned financial regulator and conservative financial world behind-the-scenes strategist Paul Atkins is the most likely potential candidate. President-elect Donald Trump's transition team has also interviewed Paul Atkins, and two sources close to Mar-a-Lago have disclosed that among the senior members of Trump's transition team, former SEC Commissioner Paul Atkins has the highest chance of being selected as SEC Chairman.

What are some hype concepts for SEC Chairman

RSR

Reserve Rights (RSR) is a dual-token stablecoin platform launched on the Huobi Prime platform in May 2019. Reserve aims to establish a stable, decentralized stablecoin and digital payment system, with its stablecoin having the feature of a supply that self-adjusts based on demand and is backed by 100% or more on-chain collateral.

The main issue RSR attempts to address is volatility, as the volatility of cryptocurrencies has limited the market's expansion as a medium of exchange. Due to concerns about potential profit loss during market downturns, merchants have been reluctant to accept cryptocurrency. The Reserve protocol provides the market with a stable store of value, a medium of exchange, and a deferred payment standard. Today, the focus of the Reserve Rights ecosystem is to help individuals, governments, and DAOs combat inflation.

The total supply of RSR is 100,000,000,000 tokens, with a current market capitalization of 1,390,407,126 USD and a TVL of 278,254,588 USD.

DTF

DTF is a meme coin, not directly related to the Decentralized Token Folios protocol introduced by Reserve. Its full name is "Believe In Something," corresponding to the DTF website's "Stop trading, believe in something."

Currently, DTF has a total market capitalization of 23.9 million USD and a 24-hour trading volume of 20 million USD.

XRP

XRP has surged fivefold in a month, reclaiming the third position in cryptocurrency market cap, returning to levels before the 2020 SEC and Ripple lawsuit, making this long-standing token one of the strongest performers in the recent altcoin rally.

Related reading: "XRP Market Cap Returns to Third in Crypto, What Is Driving Its Surge?"

Ripple is a real-time gross settlement system, currency exchange, and remittance network created by the American technology company Ripple Labs Inc. Ripple was released in 2012, based on a distributed open-source protocol, supporting tokens representing fiat currency, cryptocurrency, commodities, or other value units. It claims to enable "secure, instant, and nearly free global financial transactions of any size, without chargebacks."

Since Trump took office, there have been continuous cryptocurrency-related policies. The path to XRP's launch is closely related to the announcement of the resignation of the current SEC chairman. In December 2020, the SEC sued Ripple and its two executives — CEO Brad Garlinghouse and co-founder Chris Larsen — for "conducting $1.3 billion in unregistered securities sales," and this lawsuit has yet to reach a conclusion.

On December 1st, former CFTC Chairman Chris Giancarlo stated in an interview that the SEC should reconsider its actions, especially in light of recent legal outcomes and potential changes in the regulatory environment. When asked if the SEC would drop the Ripple case, Giancarlo said, "I think they should... I bet they will."