The Reserve Rights (RSR) token has increased by 88% to a multi-year high of $0.017, driven by speculation over Donald Trump’s potential nomination for the next SEC chair. Reports circulating in the crypto industry suggest that Paul Atkins, a former SEC Commissioner known for his supportive stance on digital currencies, might receive a nomination for the position.
Atkins has a history of working on the Reserve project, having served as an advisor in its early stages. Although he no longer actively consults with Reserve, his previous involvement and crypto-friendly stance have rekindled investor interest. Reserve co-founder and CEO Nevin Freeman recognized Atkins’ achievements, praising him as open-minded and principled, attributes that are well-suited to the crypto industry.
Since 2017, Atkins has been known to collaborate with blockchain-focused customers in his consulting, cementing his status as a possible friend for the industry. Prominent crypto proponents, like attorney John Deaton, have expressed their support for Atkins as SEC head, citing his knowledge of digital assets and willingness to work with the industry.
The increase in RSR’s valuation indicates the market’s excitement regarding Atkins’ potential appointment. Many feel his leadership will result in a more favorable regulatory climate for cryptocurrencies, in stark contrast to the outgoing SEC chief, Gary Gensler. As Trump finalizes his cabinet picks, the buzz about Atkins has already bolstered market sentiment.
While RSR’s latest gain represents a noteworthy milestone, the token is still far from its all-time high of $0.11, set in April 2021. Nonetheless, the mounting conjecture of crypto-friendly SEC leadership under Atkins has rekindled enthusiasm, not just for RSR but for the entire digital asset market.
