Paul Atkins has been sworn in as the 34th chair of the U.S. Securities and Exchange Commission (SEC), a move expected to signal a softer regulatory stance toward the cryptocurrency sector.

Upexi, a small-cap consumer goods company, saw its stock price skyrocket more than 700% after announcing a $100 million investment led by crypto trading firm GSR to support a shift into digital asset treasury management centered on solana.

More than a quarter of the funds stolen in the $1.4 billion hack on crypto exchange Bybit have vanished without a trace, according to a forensic summary shared by CEO Ben Zhou.

Top stories in the Crypto Roundup today:

• Trump-Appointed Paul Atkins Sworn in as SEC Chair Amid Crypto Industry Pivot
• GSR Backs $100M Upexi Pivot to Solana, Stock Jumps 700% on Crypto Treasury Shift
• Over $380M From Bybit’s $1.4B Hack Has Gone Untraceable, CEO Says

Trump-Appointed Paul Atkins Sworn in as SEC Chair Amid Crypto Industry Pivot

Paul Atkins has been sworn in as the 34th chair of the U.S. Securities and Exchange Commission (SEC), a move expected to signal a softer regulatory stance toward the cryptocurrency sector.

Atkins, a former commissioner from 2002 to 2008, was confirmed by the Senate earlier this month in a 52-44 vote after delays tied to financial disclosures stemming from his marriage into a billionaire family. Some of those filings revealed up to $6 million in crypto investments, including stakes in Anchorage Digital and Securitize.

"I am honored by the trust and confidence President Trump and the Senate have placed in me," Atkins said in a statement, vowing to support capital formation while maintaining fair and efficient markets.

Atkins succeeds acting chair Mark Uyeda, who earlier this year helped launch a Crypto Task Force aimed at improving relations between the commission and digital asset firms. His arrival comes as the SEC considers more than 70 crypto-related ETF applications, including filings tied to Solana, XRP and Dogecoin.

GSR Backs $100M Upexi Pivot to Solana, Stock Jumps 700% on Crypto Treasury Shift

Upexi, a small-cap consumer goods company, saw its stock price skyrocket more than 700% after announcing a $100 million investment led by crypto trading firm GSR to support a shift into digital asset treasury management centered on solana.

The investment, structured as a private investment in public equity (PIPE), will fund Upexi’s new plan to accumulate and stake SOL tokens, transforming part of its balance sheet into a crypto-based treasury.

“This investment highlights the growing demand for efficient, secure access to high-quality crypto assets in public markets,” said Brian Rudick, GSR’s head of research. Upexi’s strategy mimics moves once exclusive to crypto-native firms, but it now signals a bridge between traditional stock markets and blockchain-based finance.

Over $380M From Bybit’s $1.4B Hack Has Gone Untraceable, CEO Says

More than a quarter of the funds stolen in the $1.4 billion hack on crypto exchange Bybit have vanished without a trace, according to a forensic summary shared by CEO Ben Zhou.

The exploit, attributed to North Korea’s Lazarus Group, took control of one of Bybit’s Ethereum cold wallets in February and drained 500,000 ETH from it. Zhou said Monday that 27.59% of the stolen assets—worth over $380 million at current prices—have become untraceable.

Most of the disappearing funds moved through crypto mixers like Wasabi and Tornado Cash, then through cross-chain bridges before ending up on peer-to-peer and over-the-counter trading platforms, where the digital paper trail went cold.

"Total hacked funds of USD 1.4bn around 500k ETH. 68.57% remain traceable, 27.59% have gone dark, 3.84% have been frozen. The untraceable funds primarily flowed into mixers then through bridges to P2P and OTC platforms," Zhou wrote.

The laundering path involved a complex web of crypto tools. Attackers converted 84.45% of the stolen ETH into bitcoin through Thorchain, distributing more than 10,000 BTC across 35,772 wallets in relatively small amounts to avoid detection.

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