$ETH, $XRP Lead Crypto Surge As Trump Pauses Most Tariffs, Atkins Confirmed For SEC

Top altcoins led the cryptocurrency market's uptrend Tuesday night after U.S. President Donald Trump announced that he has decided to pause most tariffs for a 90-day period and Paul Atkins was confirmed by the Senate to lead the Securities and Exchange Commission (SEC).

Trump's big announcement and the Senate's confirmation of a pro-innovation leader for the SEC apparently had a positive impact on the crypto market just one day after Trump's tariffs crashed Bitcoin's price to $75,000 amid the U.S.'s intensifying trade war with China.

Ethereum, $XRP Lead Market Gains, $BTC Climbs

As global financial markets started reacting positively to Trump's news, the crypto market also steadily climbed overnight.

Bitcoin, the world's most valuable crypto asset, surged 8.1% to $82,300. At one point earlier in the day, BTC prices plunged to $75,000, pulled down by concerns that Trump's global tariffs were a form of "economic self-sabotage."

Things changed quickly Tuesday night after Trump announced on his social media platform that he is pausing most global tariffs for 90 days.

While BTC's surge was notable, top altcoins led the day's gains.

Ethereum (ETH) was up 13.3%, XRP surged 13.2%, Solana (SOL) gained 11.5%, Cardano (ADA) climbed 11.1%, and top meme coin Dogecoin (DOGE) also increased over 11% in the day.

Trump's tariff rollback was a huge relief to the crypto market, which has been in the red due to continuing fears of the tariffs' impact on digital asset prices.

However, the biggest news for crypto on Tuesday was the confirmation of Atkins to lead the Trump SEC.

Pro-Crypto Atkins May Bring in Much-Needed Clarity

Following a 52-44 vote, Atkins was confirmed Tuesday night to lead the SEC, which has had a contentious relationship with the crypto industry under former Chair Gary Gensler.

Journalist Eleanor Terrett said Atkins "may have made history tonight" as the first SEC Commissioner to have been confirmed by the U.S. Senate three times.

Atkins was confirmed in 2002 as SEC Commissioner, then in 2003, and finally, this year, as per Terrett.

Atkins enters the SEC with a lot of expectations hounding his leadership due to the experiences the broader crypto sector experienced under Gensler, which many crypto leaders and advocates have dubbed a "regulatory overreach."

For House Republican Majority Whip Tom Emmer, Atkins will finally usher in the much-needed clarity that the industry has been asking for.

"I think what we're gonna see now, out of the SEC, is that clarity and that certainty," with Atkins at the top leadership.

The Crypto Council for Innovation expressed thanks to senators who voted to confirm Atkins. It also congratulated Atkins, whom it said had a wealth of financial experience to bring to the table.

"We expect Mr. Atkins to bring a more measured and fair approach to SEC enforcement," the crypto group said.