Daily News: Paul S. Atkins Officially Appointed as SEC Chairman; Initia and Sign Announce Tokenomics

Other updates involve Pump.fun's rising graduation rate and PancakeSwap's CAKE token economics update, per multiple sources.

Paul S. Atkins Officially Appointed as Chairman of the U.S. SEC

The U.S. Securities and Exchange Commission (SEC) has announced that Paul S. Atkins has officially been sworn in as the 34th SEC Chairman. Previously, the U.S. Senate confirmed Paul Atkins as SEC Chairman on April 9 with a vote of 52 to 44. Atkins served as an SEC Commissioner from 2002 to 2008 and was nominated by President Trump. He has clearly stated that establishing a regulatory framework for digital assets will be a "top priority," marking a significant shift in the SEC's approach to cryptocurrency regulation.

New SEC Chairman to Review Over 70 Cryptocurrency ETF Applications

According to Decrypt, the incoming SEC Chairman Paul Atkins will face the task of reviewing over 70 cryptocurrency-related ETF applications. Bloomberg ETF analyst Eric Balchunas revealed that these applications cover a variety of crypto assets, including Solana, XRP, Dogecoin, and Pengu. Previously, the SEC approved Bitcoin and Ethereum spot ETFs under former Chairman Gary Gensler. Analysts expect that the final decision on the XRP ETF may be delayed until mid-October this year.

Spot Gold Surpasses $3,430 per Ounce, Rises Over $100 in a Day

According to Jin10.com, spot gold has broken through the $3,430 per ounce mark, continuing to hit a record high, rising over $100 in a day, and has increased nearly 10% this month.

Circle and BitGo Plan to Apply for Bank Licenses Soon

According to the Wall Street Journal, as reported by Jin10.com, sources indicate that Circle and BitGo plan to apply for bank licenses soon, with Coinbase Global and Paxos also considering similar moves.

GSR Leads $100 Million Investment in Nasdaq-Listed Upexi to Support Its Solana Reserve Strategy

According to Decrypt, crypto trading and investment firm GSR announced a $100 million private equity investment in Nasdaq-listed company Upexi (NASDAQ: UPXI). This investment follows Upexi’s announcement of a shift towards a cryptocurrency reserve strategy, aiming to create long-term value and returns for shareholders through accumulating and staking Solana. GSR’s Head of Research, Brian Rudick, stated that this investment highlights the growing demand for high-quality crypto assets in public markets. Solana Foundation Chairman Lily Liu noted that this collaboration marks a trend of convergence between traditional finance and decentralized finance.

Deutsche Bank and Standard Chartered Considering Expanding Crypto Business to the U.S.

According to Bitcoin Magazine, citing the Wall Street Journal, Deutsche Bank and Standard Chartered are considering expanding their cryptocurrency business to the United States.

Pope Francis of the Roman Catholic Church Passes Away, LUCE Surges 70% Briefly

According to Vatican News, Pope Francis of the Roman Catholic Church has passed away at the age of 88. Possibly influenced by this news, GMGN market data shows that LUCE surged 70% briefly, with its market cap surpassing $15 million before falling back to $12 million.

Pump.fun Platform's Weekly Token Graduation Rate Rises for Three Consecutive Weeks

According to Dune, Pump.fun's weekly token graduation rate has risen to 1.08%, marking three consecutive weeks of increase. Meanwhile, the platform's weekly trading volume has warmed up for two consecutive weeks, with last week's cumulative trading volume reaching $130 billion.

Initia Announces Tokenomics: Total Supply of INIT is 1 Billion, 5% Allocated to Airdrops

According to official reports, L1 blockchain Initia has released its token economic model. The total supply of the native token INIT is fixed at 1 billion, with 7.75% allocated to the foundation, 15% to protocol developers, 15.25% to investors, 25% to the Vested Interest Program (VIP) reward plan, 6% to Binance listing marketing, 5% to airdrops, and 1% to Echo platform sales.

Sign Announces Tokenomics: Total Supply of SIGN is 10 Billion, 10% Airdropped at TGE

According to official reports, the on-chain token distribution protocol Sign has unveiled its token economic model. The total supply of SIGN is 10 billion, which will be minted on the Ethereum mainnet and distributed via BNB Chain and Base. The token allocation includes 40% for community incentives (with 10% as TGE airdrop and 30% for community rewards and future airdrops), 20% for supporters, 10% for early team members, 10% for the ecosystem, 20% for the foundation, 12% for core contributors, 3.5% for liquidity incentives, 2% for compliance budget, 2% for operational budget, and 0.5% for donations. The on-chain asset snapshot will be conducted at UTC time 2025-04-25 12:00:00.

Previously, Sign completed a $16 million financing round, led by Yzi Labs.

PancakeSwap Announces Implementation of CAKE Token Economics 3.0 Starting April 23

According to PancakeSwap, CAKE Token Economics 3.0 is set to be implemented at 8:00 AM Beijing time on April 23. veCAKE and Gauges Voting will officially exit the market. All CAKE and veCAKE stakes will be unlocked, and users who staked CAKE directly through the PancakeSwap interface will be able to convert veCAKE to CAKE at a 1:1 ratio. Users who staked CAKE directly through the PancakeSwap interface will have six months to redeem their staked CAKE and veCAKE.