Crypto Dream
06/05 18:09
Trump economic advisor's stake in Coinbase raises
Trump economic advisor's stake in Coinbase raises new ethical questions
Kevin Hassett, head of the National Economic Council during Trump's second term, revealed that he had invested several million dollars in the crypto exchange Coinbase, raising concerns about potential conflicts of interest in Washington.
A recently released government ethics project reveals that Hassett owns between $1 million and $5 million in Coinbase stock. The investment is related to his previous service on the company’s advisory board, which included several prominent Trump allies.
Before returning to the White House in early 2025, Hassett earned $1.5 million from various sources, including roles at Stanford's Hoover Institution and the Milken Foundation. He also collected nearly half a million dollars in speaking fees from financial firms like Goldman Sachs and Citigroup, and received $50,001 from Coinbase for his consulting work.
Unlike Senate-confirmed Cabinet members, senior White House aides like Hassett are not required to divest assets or submit detailed ethics plans. There is currently no confirmation that he intends to divest from his Coinbase stake, despite being responsible for crypto policy at the highest level of government.
Shortly after taking office, Trump signed an executive order creating a digital asset task force, led by Hassett, to draft crypto regulations that could affect companies like Coinbase.
The release of financial statements has been slower than during Trump's first term. Meanwhile, the Office of Government Ethics has undergone major changes - Trump fired its director in February and appointed Jamison Greer as acting director, raising concerns about weakening checks and balances.
Hassett’s ties to cryptocurrency follow a growing trend among Trump appointees. Brian Quintenz, the nominee to head the CFTC, recently declared $3.4 million in assets related to cryptocurrency and prediction markets. He has pledged to divest himself of them if confirmed.
As digital assets increasingly enter federal politics, the overlap between personal investment and public responsibility becomes increasingly difficult to ignore.
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