The Blockchain Bulletin, April 23: Paul Atkins Takes Over SEC Leadership
Hey folks! Welcome to the latest edition of The Blockchain Bulletin. Over the last 24 hours, the crypto world has witnessed significant developments in regulatory, institutional, and market sectors. On the regulatory front, Paul Atkins was officially sworn in as the 34th Chairman of the U.S. Securities and Exchange Commission (SEC).
Already served as an SEC Commissioner during the George W. Bush administration, Atkins was nominated by President Donald Trump in January 2025 and confirmed by the Senate with a 52-44 vote on April 9. Renowned for his market-friendly stance, Atkins now replaces Gary Gensler with a pledge to establish transparent digital asset frameworks and simplify regulatory procedures. In his statement, Atkins emphasized his goal to preserve market fairness and investor protection while advancing capital formation — a clear signal that crypto innovation may be headed for clearer skies.
While the crypto space welcomes a new sheriff, the traditional financial world is wobbling. The U.S. Dollar Index (DXY) plummeted by 10.7% to 98.341 within 98 days, representing a depraved point drop of 12.255, or declines as high as 11.12% since the index smashed the critical level of support at 100.
According to analysts, the decline stemmed from the escalating trade wars between the U.S. and China. Further, the tariff policies signal increased inflation and fiscal policies. Technically, a bearish death cross formation was reached as the 50-period moving average penetrated the 200-period line from above, indicating that the greenback will be weak for a while.
Back in the cryptoverse, Grayscale has rolled out a Decentralized AI Fund taht focuses on top projects integrating decentralized artificial intelligence. These include Bittensor (TAO), NEAR Protocol, Render, Filecoin (FIL), and The Graph (GRT). The fund kicked off with $1 million in assets under management, and shares began trading at $4.82, climbing 14.22% on the launch day.
Bittensor holds the largest share at 27.18%, followed by NEAR (24.54%), Render (22.75%), Filecoin (17.26%), and The Graph (8.27%). With 218,100 outstanding shares, the fund targets accredited investors seeking exposure to AI-driven crypto innovations.
Meanwhile, Bitcoin (BTC) has shown significant progress in the market. According to Fundstrat’s Tom Lee, Bitcoin is gradually matching gold’s behavior as it recovers from institutional selling pressure. BTC rose over 4% since last Wednesday, reaching a high above $87,700 before settling around $87,100. With gold attaining a new ATH at $3,430 per ounce, Lee stated that Bitcoin could follow the same post-deleveraging rebound, fueling gold’s ascent.
Related: KAITO Price Prediction 2025-35: Will It Hit $100 by 2035?
On the other hand, Ark Invest has shuffled its portfolio, showcasing renewed crypto confidence. Led by Cathie Wood, the firm purchased 60,266 shares of Robinhood, offloaded 31,817 shares of its Bitcoin ETF, and picked up 500,000 shares of the 3iQ Solana Staking ETF (SOLQ.U)—Canada’s first Solana-focused ETF. Ark entered Solana with this purchase, worth $5.2 million, through ARKW and ARKF. The ETF also provides staking in tokens, allowing exposure to the on-chain activity of Solana.
Circle Internet Group has unveiled the Circle Payments Network (CPN), allowing smooth and quick cross-border transactions with regulated stablecoins. Working with banks, wallets, and payment processors, CPN seeks to displace slow traditional systems with swift, cost-effective, and interoperable transactions. Enabling a variety of financial activities, from remittances to payroll-to-treasury settlements, CPN integrates with local real-time payment systems for efficient global payment capabilities.
