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Kevin Hassett, the head of the National Economic Council under Donald Trump’s second term, just disclosed a major financial interest in Coinbase – and as you would expect, it’s raising more than a few eyebrows in D.C.
According to a draft filing released by the U.S. Office of Government Ethics (OGE), Hassett holds between $1 million and $5 million in Coinbase stock. That stake comes from his previous advisory role on the exchange’s Academic and Regulatory Advisory Council, a group that includes several figures aligned with Trump.
Hassett’s Million-Dollar Year: Crypto and Wall Street
Before stepping into his current role in January 2025, Hassett earned $1.5 million from various sources. That includes salaries from Stanford’s Hoover Institution and the Milken Foundation, along with $471,000 in speaking fees from giants like Goldman Sachs and Citigroup Global Markets.
He also reported receiving $50,001 from Coinbase for his work on the advisory council – a number that further cements his ties to one of the most prominent U.S. crypto firms.
No Divestment Required – Yet
Unlike cabinet members, White House officials who don’t face Senate confirmation are not obligated to share detailed ethics plans or divest certain holdings. As of now, the disclosure doesn’t confirm whether Hassett will part ways with his Coinbase shares, even as the White House shapes digital asset policy.
And timing matters. Just after taking office, Trump signed an executive order forming a digital asset markets working group under Hassett’s council – an effort designed to develop crypto-friendly regulation and boost U.S. fintech leadership.
OGE in Turmoil as Crypto Ties Pile Up
Trump’s second term has moved slower in releasing financial disclosures compared to 2017. Meanwhile, the OGE – the body responsible for ethics enforcement – has faced its own disruption. In February, Trump fired its head, David Huitema, replacing him with trade rep Jamieson Greer as acting director.
This shake-up comes as other crypto-connected figures join the Trump lineup.
A Look at Quintenz’s Crypto Portfolio
This seems to be a pattern now. It’s been a few days since CFTC chair nominee Brian Quintenz revealed $3.4 million in assets, with clear ties to crypto investment vehicles and prediction markets. A former CFTC commissioner and current policy lead at a16z, Quintenz pledged to divest if confirmed.
Crypto insiders are now part of the team shaping U.S. rules, and big changes could be coming. Stay tuned.