The post XRP slides as Paul Atkins’ “conflict of interest” sparks $220M market exodus appeared on BitcoinEthereumNews.com.

Ripple (XRP) experienced heavy selling pressure this weekend, coming close to dropping below the critical $2 mark. This meltdown has translated into some $220 million in market outflows—amid what appears to be increasing anxiety over U.S. Securities and Exchange Commission (SEC) nominee Paul Atkins. ​ Paul Atkins’ crypto holdings spark scrutiny Atkins, who served as an SEC commissioner from 2002 to 2008, is a proponent of a lighter regulatory approach. President Donald Trump nominated him, and he has come under scrutiny for his significant financial interests in the crypto sector, including between $2 million and $6 million in crypto-related assets. Such holdings include stakes in crypto custodian Anchorage Digital, tokenization firm Securitize, and crypto investment firm Off the Chain Capital. During his confirmation hearing in the Senate, lawmakers, including Sen. Elizabeth Warren, zeroed in on potential conflicts of interest related to Atkins’ extensive background as a regulatory adviser to major financial institutions, including digital asset companies. Senator Warren expressed concerns that Atkins’ former clients, who paid him handsomely to help shape regulators such as the SEC, could unduly profit from his leadership. ​ While Ripple recently won a landmark legal battle against the SEC, Atkins’ confirmation process has raised new questions about the long-term regulatory environment for crypto. These events have been met with some significant volatility in the crypto market. XRP fell to $2.06 earlier today before bouncing back to $2.15 as cautious traders remain unsure of the regulatory landscape.  Traders weigh the risks of stricter crypto regulations Traders fear that if they block the appointment of Atkins to the SEC Chair position, a more crypto-unfriendly successor could slide into the position instead. This may result in stricter regulations, postponing or even rejecting XRP and other altcoin ETFs getting approved. According to data from Polymarkets, the odds of an XRP ETF being…

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Filed under: News - @ March 30, 2025 7:18 am