Kevin Hassett, who once served as the director of the U.S. National Economic Council under former President Trump, has publicized his significant investment in Coinbase Global Inc., estimated to be worth at least $1 million, according to Bloomberg.
Hassett’s investment in Coinbase, represented as vested stock, is reportedly valued between $1 million and $5 million. This broad range is typical of financial disclosures. Hassett’s total disclosed assets amount to a minimum of $7.6 million.
In addition to his Coinbase stake, Hassett disclosed that he received an income of $50,001 from the Academic and Regulatory Advisory Council of Coinbase. He shared the board with notable figures such as former SEC Chair Jay Clayton and former CIA General Counsel Courtney Elwood, both of whom have connections with President Trump.
The Bloomberg report did not indicate whether Hassett is obligated to sell his Coinbase shares to prevent potential conflicts of interest. Hassett, who was the chairman of the White House Council of Economic Advisers from 2017 to 2019 during Trump’s first term, was also part of the team that developed economic strategies in response to the Covid-19 pandemic in 2020.
Hassett also served on the advisory council of One River Digital Asset Management, a cryptocurrency fund management firm. In November of the previous year, he was nominated by Trump to be the director of the National Economic Council. The Council formed a digital asset market working group following an executive order from the pro-crypto U.S. president. This group’s role involves proposing regulations and legislative actions aimed at strengthening U.S. leadership in cryptocurrency and financial technology.
Disclaimer: As of November 2023, Foresight Ventures is a majority investor of The Block, an independent media outlet that delivers news, research, and data. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. This article is for informational purposes only. It is not intended as legal, tax, investment, financial, or other advice.
