• This is an excerpt from the Insider Today newsletter.

The crypto community continues to experience success.

President-elect Donald Trump lived up to his self-proclaimed title of “crypto president” by picking a major proponent of digital assets take over the leadership of the Securities and Exchange Commission.

Trump nominated Paul Atkins, who served as SEC commissioner under George W. Bush, for the role of Wall Street’s top cop. Atkins has been part of the Token Alliance, a crypto advocacy group, since 2017.

That wasn’t the only victory the “Hodlers” celebrated. Bitcoin surpassed the all-important $100,000 mark For the first time on Wednesday. It’s the latest in a historic run for an industry is still reveling in the afterglow of what a Trump victory means for its market.

If confirmed, Atkins will be in stark contrast to current SEC Chairman Gary Gensler, who announced his intention to resign in January.

Gensler, a former Goldman Sachs partner who also taught a course on blockchain at MIT, did not initially draw the ire of the crypto world. It wasn’t long before he caused a stir – to put it mildly – with his quest for more control and his attempts to prevent some new products from coming to market.

So while the hurdle to hiring an SEC leader the crypto community liked better than Gensler was essentially on the floor, Atkins, who has been advising crypto companies for the past few years, is a best-case scenario for Digital asset advocate.

Trump’s selection of key people overseeing the economy and Wall Street is now widely known.

While some of his nominations raised eyebrows and even caused some to withdraw, Trump’s finance-focused picks are viewed as more traditional.

Howard LutnickTrump’s nominee for Commerce Secretary has had success that extends beyond the financial services firm (Cantor Fitzgerald) and the brokerage firm he runs (BGC Group).

He also organized the purchase of commercial real estate services provider Newmark in 2011 for just over $60 million. In the years since, he has helped make Newmark a real estate leader with a market capitalization of around $3.8 billionwrites Business Insider’s Dan Geiger.

In the meantime, Scott BessentTrump’s choice for Treasury Department is also not surprising. (Elon Musk even called him a “business-as-usual choice.”) The billionaire investor has previously been George Soros’ right-hand man He founded his own hedge fund.

The selection did not elicit the strong reactions of other members of his proposed Cabinet, but perhaps that is the point. What the market hates more than anything is uncertainty, and with this group it seems that what you see is what you see.

The Insider Today team: Dan DeFrancesco, associate editor and moderator, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, co-editor, in London. Spriha Srivastava, head of the UK office, in London. Amanda Yen, scholarship holder, in New York. Milan Sehmbi, Fellow, in London.

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