Paul Atkins’ loosely linked RSR token rises 13% after Coinbase listing

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Coin Telegraph 12h ago

Paul Atkins’ loosely linked RSR token rises 13% after Coinbase listing - Coin Telegraph

Quick Summary:

A governance token for the Reserve Protocol stablecoin, launched by a firm previously advised by sworn-in SEC Chair Paul Atkins, has surged over 13% after crypto exchange Coinbase announced that it will list the token. Atkins was an early adviser for the stablecoin firm around the time it launched in 2019, according to Reserve Protocol’s CEO Nevin Freeman.

The Reserve Rights (RSR) token is the governance token aimed at ensuring the stability of the Reserve Protocol’s stablecoin, Reserve Dollar (RSV). In an April 21 X post, Coinbase said it would list the RSR token on the Ethereum layer-2 network Base on April 22 at 9 am Pacific Time (4 pm UTC).

It comes two weeks after the Senate confirmed Atkins as SEC chair in a 52-44 vote on April 9. Related: Crypto in a bear market, rebound likely in Q3 — CoinbaseAtkins takes over from Mark Uyeda, who has been the SEC’s acting chair since Jan.20, when former chair Gary Gensler stepped down.