In fact, to evaluate whether a person is really crypto-friendly, you can tell by their positions.
For example, US Secretary of Commerce Lutnick holds several hundred million dollars in crypto assets, and his public voice has proven to be quite impressive.
We studied the net worth of the new US SEC chairman Paul Atkins and found a few interesting discoveries:
First, according to recent disclosures, Atkins has a net worth of 237 million dollars, of which the crypto assets are probably several million dollars.
Many people are spreading this image: 'Atkins holds 6M in crypto assets but has no Bitcoin.'
However, these two conclusions are likely both incorrect.
First, in the US, financial disclosures are filled out in ranges, not specific amounts, for example, someone holds an asset in the range of 100K-250K.
I was curious to look at Atkins's holdings:
1. Equity in two very traditional-style crypto companies, which are:
Securitize (this is another agent of BlackRock in the crypto space, specifically dealing with various RWAs)
Anchorage Digital (currently the only [crypto bank] in the US, also very traditional)
Both of these have equity in the range of 250K-500K, which is actually quite little for his net worth.
2. Regarding an investment in a fund called off the chain capital
The scale is 1-5M.
I took a look at this fund, and I have to say the strategy is quite something.
It is not a crypto VC but focuses on investing in some low-cost opportunities for acquiring Bitcoin, such as debts in Mentougou, Bitcoin mining machines, and Bitcoin leverage.
So the widely circulated image is obviously a rumor:
1. Holding 6M in crypto assets x
Theoretically, holding a maximum of 6M, but at least it could be only 2-3M.
It probably accounts for 1%-3% of his net worth, which is less than Vance; I remember Vance had about 6% in Bitcoin ETF.
2. Not holding Bitcoin x
Because he invested in off the chain, and that fund has a Bitcoin strategy, he absolutely has indirect holdings in Bitcoin.
---Separator---
However, from his overall style, it is clear that he prefers traditional things; in the crypto world, it is at most to the level of Bitcoin.
The crypto-friendly statements we can find from him are mostly published around 2017.
Unfortunately, in 2022, due to his previously largest company Patomak being involved in the FTX incident, he probably does not have a very good impression of cryptocurrencies.
Gary Gensler has also taught blockchain courses and still maintains a very strict attitude (though there are certain benefits to that).
Therefore, regarding the new chairman of the US SEC, Atkins, we feel that although he is crypto-friendly, he may only be friendly to:
1. Crypto order led by traditional companies
2. And Bitcoin-friendly
He might be a bit freer than Gensler, but it is absolutely impossible for him to become super free all at once; at least from his public opinions and positions, we do not see that.
