#Treasury Secretary nominee divests crypto assets#
Hot Topic Overview
Overview
President-elect Trump's nominee for Treasury Secretary, Scott Bessent, will resign from and sell his stake in Key Square Group to avoid potential conflicts of interest. Bessent disclosed at least $521 million in assets in his personal financial disclosure, including nine top-tier assets related to his hedge fund, as well as a personal investment of less than $500,000 in the iShares exchange-traded fund that is tied to the price of Bitcoin. Bessent will divest from the crypto-based ETF and sell his stake in Key Square Group within 90 days. Bessent also listed at least $5 million in residential real estate in the Bahamas, and at least $1 million in art and antiques.
Ace Hot Topic Analysis
Analysis
President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, will divest dozens of assets, including cryptocurrency ETFs, to avoid conflicts of interest. Bessent disclosed at least $521 million in assets in his personal financial disclosure, including two tranches of U.S. Treasury notes, two Invesco funds, and open positions in foreign exchange rates. He also listed a personal investment of no more than $500,000 in an iShares exchange-traded fund linked to the price of Bitcoin. To avoid conflicts of interest, Bessent will resign from Key Square Group and sell his shares in the partnership, and will divest his assets in Key Square Capital, including cryptocurrency-based ETFs, within 90 days. Bessent also listed residential real estate in the Bahamas worth at least $5 million, as well as an art and antique collection worth at least $1 million.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
To avoid conflicts of interest, US Treasury Secretary nominee Scott Bessent will sell his stake in Key Square Group, including the iShares exchange-traded fund that is linked to the price of Bitcoin.
Bessent's personal financial disclosure shows he owns at least $521 million in assets, including two tranches of US Treasury bills, two Invesco funds, and open positions in foreign exchange.
Bessent also listed at least $5 million in residential real estate in the Bahamas and at least $1 million in art and antiques.
Bessent will sell his stake in Key Square Group within 90 days, but he will need more time to fully divest from his holdings because of restrictions on some of his investments.