Elizabeth Warren Questions Trump's SEC Pick Paul Atkins On FTX Ties, TRUMP Memecoin Conflict Of Interest

Sen. Elizabeth Warren (D-Mass.) raised questions about Paul Atkins’ connections to the cryptocurrency industry that she believes could pose conflicts of interest if he is confirmed as SEC Chair.

What happened: In a letter dated Mar. 23, Warren said that Atkins served as an advisor to the failed cryptocurrency exchange FTX from 2021 until its collapse in November 2022.

"Your deep involvement with FTX and other high-paying crypto clients raises questions about your approach to crypto regulation—and concerns about the extent of your knowledge of FTX's illegal activities," Warren stated in the letter.

The senator, who won a third term last year, asked Atkins what advice his firm Patomak Global Partners provided to FTX and whether he was aware of or complicit in any wrongdoing that led to the firm’s bankruptcy, which cost investors billions.

According to the Wall Street Journal, Patomak agreed to serve as an adviser to FTX in January 2022.

Patomak didn't immediately return Benzinga's request for comment.

Warren also pointed to Atkins' long-standing relationship with the Chamber of Digital Commerce, a prominent cryptocurrency lobbying group where he has served as an advisor since 2020.

See Also: Bitcoin Arms Race: Peter Schiff Doubts Cynthia Lummis’ Theory That China Wants To Take On US — ‘Smart Enough To Have Sold’

Additionally, Warren expressed concerns over President Donald Trump's Official Trump TRUMP/USD coin and the SEC's statement that meme coins are not securities.

"The Staff Statement appears to have the effect of entirely exempting President Trump's meme coin from the SEC's scrutiny," she said.

Why It Matters: Warren's questions to Atkins come ahead of his Thursday confirmation hearing in the Senate. He was nominated to lead the regulator by Trump in December 2024.

Warren, seen as an anti-cryptocurrency crusader, previously pressed Commerce Secretary Howard Lutnick ahead of the latter’s confirmation in February.

Warren overcame the challenge from pro-cryptocurrency opponent John Deaton to secure a third Senate term last year.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.