Hassett's Crypto Holdings Raise Ethics Questions Amid Trump's Regulatory Push
White House economist Kevin Hassett held between $1 million and $5 million in Coinbase stock during the Trump administration's push for cryptocurrency policies. According to his 2025 annual financial disclosure, Hassett had not fully divested from the shares nearly 11 months into President Donald Trump's second term.
Hassett served as an advisor to Coinbase from 2021 through January 2025 and stated that he held off on selling the shares to avoid appearing to time a sale. He added that he had guidance from 'the ethics people' and was determining 'what needs to be done.' Hassett also said he recused himself from any matter related to crypto.
The White House set up the President's Working Group on Digital Asset Markets inside the National Economic Council, which recommended broad changes spanning digital-asset markets, banking, stablecoins, and taxation. The administration has rolled back Biden-era crypto policies, set up a government Bitcoin reserve, and urged Congress to move toward a broader federal regulatory framework.
Coinbase's CEO Brian Armstrong met several times with Trump and high-ranking officials in the White House, and the company pledged another $25 million for the midterms. The SEC dismissed its enforcement action against Coinbase 'with prejudice,' barring the agency from bringing an identical claim in the future.