SEC's Atkins Questioned in Congress: Impact on ALT?
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Contents
US congressmen harshly questioned SEC Chair Paul Atkins during Wednesday's session due to the decrease in enforcement actions against the crypto industry and the dismissal of some cases. Representative Stephen Lynch emphasized that enforcement actions have decreased by 60 percent since Trump took office and Atkins was appointed. He cited the dismissal of the Binance case in May 2025 as an example.
Representative Stephen Lynch questions SEC Chair Paul Atkins. Source: US House Committee on Financial Services
Is WLFI Investment and Memecoins a National Security Issue?
Lynch found the 49% investment in the Trump family-linked World Liberty Financial (WLFI) platform from Abu Dhabi-based Aryam Investment 1 and the family memecoins problematic from a national security perspective. He argued that the crypto market has fallen by 25% in the last month, trust has been lost, and the SEC's reputation has been damaged. Atkins responded that they are conducting a strong enforcement effort and bringing new cases.
SEC Chair Paul Atkins responds to Representative Lynch’s questioning. Source: US House Committee on Financial Services
Maxine Waters: SEC Cases Are Being Dropped for Political Reasons
Representative Maxine Waters claimed that SEC cases won in court are being dropped for political reasons. She alleged that crypto executives donated millions of dollars to the Trump family and described family projects as backdoors for foreign influence.
California Representative Maxine Waters presses Atkins about dropped SEC lawsuits at Wednesday’s House hearing. Source: US House Committee on Financial services
ALT Price After SEC Questioning: Market Pressure Increases
This political tension has increased uncertainty in altcoins like ALT. ALT is currently at $0.01, with a 24h change of +3.69% but the overall trend is downward. RSI at 35.49 is near the oversold region, but Supertrend is giving a bearish signal. The 25% market drop in the last month reflects regulatory fears. Click for detailed ALT analysis.
ALT Technical Analysis: Support and Resistance Table
| Level | Price | Score | Distance | Sources |
|---|---|---|---|---|
| S1 | $0.0080 | 73/100 ⭐ STRONG | -5.10% | S1, Prev Day Low, Fibo 0.114 |
| S2 | $0.0069 | 72/100 ⭐ STRONG | -18.15% | Fibo 0.000, Donchian Lower |
| R1 | $0.0086 | 65/100 ⭐ STRONG | +2.02% | R1, MACD Cross, Prev Day High |
| R2 | $0.0117 | 64/100 ⭐ STRONG | +38.79% | LVN 5, Fibo 0.382, Donchian Upper |
EMA 20: $0.0095. Expert opinion: If S1 ($0.0080) breaks, the decline will accelerate; if R1 ($0.0086) holds, recovery is possible. WLFI and MEME coin tensions are indirectly pressuring ALT.
WLFI-MEME Connection and ALT Investor Risk
Trump family memecoins and WLFI investment have reduced ALT futures volume. Investors should monitor national security claims; while Atkins' defense signals regulatory easing, Waters' accusations could increase volatility. Short-term bearish outlook dominates for ALT.
What Will SEC Policy Change Bring to ALT?
The decrease in enforcement could give breathing room to projects like ALT, but political pressure is eroding confidence. Dismissals like the Binance case could set precedents. Follow: Nearby support S1 is critical.