Crypto Tycoons Behind Trump: Paul Atkins, David Sacks, and Musk's Individual Investment Ventures
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December 6, 2024 — The Trump administration recently announced its intent to appoint Paul Atkins as the Chairman of the U.S. Securities and Exchange Commission (SEC) and PayPal co-founder David Sacks as Trump's White House "AI and crypto czar".
These two industry giants, alongside Tesla founder Elon Musk, are wielding substantial influence over the future of the cryptocurrency industry while cementing their roles in Trump's political and economic strategies. Collectively, they are sparking a cryptocurrency investment wave poised to sweep across the globe.
Paul Atkins: Championing Regulatory Innovation
Paul Atkins, the newly nominated Chairman of the SEC, is a seasoned financial regulator and staunch advocate for cryptocurrency. Leveraging his profound understanding of the fintech landscape, Atkins focuses on investing in cryptocurrency projects with technological innovation and regulatory potential.
One standout initiative is Reserve Rights, where Atkins serves as an advisor and holds its token, 
RSR/USDT0.006217+6.82%
. Reserve Rights aims to build a more stable and transparent cryptocurrency reserve system, providing more reliable infrastructure support for the crypto industry. Under Atkins' guidance, Reserve Rights' market capitalization has steadily grown to $948 million. Following the announcement of Atkin's nomination, RSR/USDT0.006217+6.82% saw a remarkable increase of 154.39%, with a 96.64% rise over the past seven days.
David Sacks: The Crypto Strategist of Venture Capital
David Sacks, former COO of PayPal and co-founder of the venture capital fund Craft Ventures, has been a pivotal figure in cryptocurrency investments. As early as March 2018, Sacks invested in Multicoin Capital, recognizing its potential as a leader in the crypto investment space. By July 2018, Multicoin demonstrated its strategic foresight by leading a $20 million funding round for Solana, becoming one of the early backers of this now-prominent project.
Solana’s success is just one of many highlights in Craft Ventures’ impressive track record. With a strong focus on infrastructure, the venture capital firm has built a diverse portfolio of 12 crypto projects, including dYdX, Handshake, and 0xProtocol.
Data Source: RootData
dYdX, a decentralized derivatives trading platform, saw its token 
ZRX/USDT0.2595+1.52% .
DYDX/USDT0.6742+2.69%
surge 24.53% within 24 hours of the announcement of Craft Ventures' investment. Similarly, Handshake, a decentralized domain name system aimed at creating a more secure and transparent Internet domain ecosystem, experienced a market capitalization increase of 83.30%, with a 7-day rise of 137.10%. Additionally, Sacks' advisory role in 0xProtocol, a decentralized trading protocol, has driven steady growth for its token Elon Musk: A Cross-Industry Maverick
Elon Musk, the founder of globally renowned companies such as Tesla and SpaceX, has left an incredible mark on the cryptocurrency landscape. His unconventional approach to crypto investments has consistently sent ripples through the industry, demonstrating his immense influence as a thought leader.
Musk's cryptocurrency investments primarily focus on mainstream tokens such as 
DOGE/USDT0.16957+2.45%. Through frequent remarks on social media platforms, he has driven the market value of these tokens to significant heights. Under Musk’s endorsement, Dogecoin’s market capitalization once skyrocketed to $64.2 billion, capturing the attention of countless investors.
BTC/USDT 84562.12+1.19%
and In addition to directly investing in cryptocurrencies, Musk has boosted the visibility and market value of several meme projects through X posts and reposts. Notable examples include 
CHILLGUY/USDT0.02972+6.48%, and 
BAN/USDT0.05711+0.99%. Under Musk's influence, these projects experienced varying degrees of market capitalization growth and price surges. His actions reveal a deep fascination and unique perspective on the cryptocurrency market and solidify his influence and status within the crypto realm.
During President Trump’s tenure, cryptocurrency projects emerged rapidly. From Paul Atkins' deep involvement in the Reserve Rights project as SEC Chairman to David Sacks' expansive ventures in the crypto sector through Craft Ventures, and Elon Musk's unique forays into the market as a cross-industry trailblazer, each narrative underscores the growing reality that cryptocurrencies are becoming an essential pillar of the global economic system.
How to Participate in These Projects
For ordinary investors, to participate in cryptocurrency projects backed by these crypto magnates, the first step is to find a secure, reliable, and user-friendly exchange platform.
Among the numerous platforms, MEXC is undoubtedly a recommended choice. MEXC provides users with the most trending tokens, everyday airdrops, extremely low fees, and comprehensive liquidity. As one of the leaders in the industry, MEXC offers a wide range of mainstream cryptos, such as
BTC/USDT84562.12+1.19%
and ETH/USDT1981.91+1.60%
, and also continuously introduces emerging crypto projects, providing investors with a wealth of options. Additionally, MEXC's low-fee policy significantly reduces trading costs for investors.Here's a step-by-step guide on how to trade DOGE/USDT0.16957+2.45% on the MEXC app.
- Log in to the MEXC app and tap on Trade.
- Select Spot and tap on the trading pair. Then, search for DOGE/USDT.
- Tap on Buy DOGE.
Disclaimer: This information does not provide advice on investment, taxation, legal, financial, accounting, consultation, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. MEXC is not responsible for users' investment decisions.