Kevin Hassett, the Director of the National Economic Council who determined President Donald Trump’s economic policies, announced that he owns at least $1 million in shares of Coinbase Global Inc.
According to Bloomberg's report, Hassett stated the value of his shares in Coinbase to be between $1 million and $5 million in his financial disclosures. It is reported that the total value of the assets he has disclosed is at least $7.6 million.
Kevin Hassett also announced that he receives over $50,000 in salary from Coinbase’s Academic and Regulatory Advisory Board. Hassett had worked alongside individuals connected to the Trump administration, such as former SEC Chairman Jay Clayton and former CIA Chief Counsel Courtney Elwood, on Coinbase’s board.
Conflict of interest discussions
Hassett's statements raised allegations that he might experience conflicts of interest while performing his duties. The Bloomberg report noted that there was no clear information on whether Hassett would sell his Coinbase shares to prevent potential conflicts of interest.
Kevin Hassett served as the Chairman of the White House Council of Economic Advisers during Trump’s first presidential term from 2017 to 2019 and supported the formation of economic policies during the COVID-19 pandemic in 2020. Additionally, Hassett was also a member of the advisory board of a crypto fund management company called One River Digital Asset Management.
The Trump administration has recently been working on regulations aimed at strengthening the U.S.'s leadership in the digital asset and financial technology space by adopting friendly policies towards cryptocurrencies.
