cryptonewsz.com
Paul Atkins, nominated by former President Donald Trump to lead the US Securities and Exchange Commission (SEC), has disclosed that he and his wife, Sarah Humphreys, hold at least $327 million in assets. This disclosure was made ahead of Atkins’ scheduled confirmation hearing with the Senate Banking Committee.
SEC Nominee Paul Atkins Financial Disclosure
The couple’s assets are partially tied to their stakes in Atkins’ consulting firm, Patomak Global Partners, and Tamko Building Products, a roofing company that Humphreys’ family controls. According to a financial disclosure made public on March 25 by the US Office of Government Ethics, the family owns 75% of Tamko.
Atkins personally reported up to $78.8 million in assets, including various holdings such as up to $15,000 in assets, a membership interest valued between $25 million and $50 million at Patomak, between $250,000 and $500,000 in call options at Securitize, a platform for tokenizing real-world assets, and between $50,000 and $100,000 at Pontoro, a financial technology firm.
On his confirmation, Atkins will resign as CEO of Patomak and divest his ownership interests, including his stock options in Securitize. He previously served as an SEC commissioner from 2002 to 2008.
The assets disclosure came just ahead of Atkins’ appearance before the Senate Banking Committee on March 27. Massachusetts Senator Elizabeth Warren, the committee’s ranking Democrat, has urged Atkins to address his involvement with FTX and other cryptocurrency clients during the hearing.
Despite potential scrutiny, Atkins may also receive support from some Republican members of the committee. For instance, Wyoming Senator Cynthia Lummis, a strong advocate for digital assets, has expressed confidence that Atkins will quickly work to provide clearer regulations for the cryptocurrency industry.
Atkins’ nomination hearing is the first time the US lawmakers are formally reviewing his candidacy since President Trump nominated him in December to replace former SEC Chair Gary Gensler. Following Gensler’s departure on January 20, Commissioner Mark Uyeda has been serving as the SEC’s acting chair.