Source: Cointelegraph Original: "{title}"
The governance token - Reserve Rights (RSR) - launched by the stablecoin project guided by former advisor Paul Atkins, saw its price rise by over 13% after the cryptocurrency exchange Coinbase announced it would list the token.
According to Nevin Freeman, CEO of Reserve Protocol, Atkins was an early advisor when the company launched in 2019 but is no longer providing consulting services to the company.
The RSR token is the governance token of the protocol, aimed at ensuring the stability of the Reserve Protocol stablecoin, Reserve Dollar (RSV).
Coinbase stated in an X post on April 21 that the RSR token would be listed on the Ethereum Layer-2 network Base at 9 AM Pacific Time (4 PM local time) on April 22.
Atkins' news further boosted RSR's price
The announcement of Coinbase listing the RSR token, combined with the news of Atkins officially being sworn in as SEC Chairman on April 21, propelled the token up by 13.6%, reaching a nearly two-month high of $0.00835, according to CoinGecko data.
Before Atkins' swearing-in, RSR had already risen by double digits, reaching about $0.0081.
Currently, RSR has a market capitalization of $464 million, ranking 143rd by market cap.
Atkins stated that he would work to ensure that the U.S. becomes "the safest and highest-quality investment and business environment in the world," and ensure that adequate consumer protection measures are in place.
This news comes two weeks after the Senate confirmed Atkins as SEC Chairman with a vote of 52 to 44 on April 9.
Atkins succeeded Mark Uyeda, who had been serving as the SEC's acting chairman since January 20, when former chairman Gary Gensler resigned.
Since President Trump took office again, the SEC has established a cryptocurrency working group to consult with the industry on regulation and has abandoned several crypto-related investigations and enforcement actions led by Gensler.
Atkins is expected to take a more crypto-friendly stance; during his Senate confirmation hearing in March, he stated that one of his priority tasks is to provide a solid regulatory foundation for crypto assets through a "rational, coherent, and principled approach."
Related: Mantra states that the CEO has initiated a program to burn 150 million OM tokens.
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