Director of the U.S. National Economic Council Kevin Hassett disclosed his stake in Coinbase Global Inc. worth at least $1 million, Bloomberg reported Tuesday.
Hassett’s Coinbase holdings, listed as vested stock, are reportedly valued at up to $5 million, as financial disclosures typically present asset values in broad ranges. Hassett’s total reported assets are worth a minimum of $7.6 million.
In the disclosure, Hassett also revealed receiving $50,001 in salary from Coinbase’s Academic and Regulatory Advisory Council. He reportedly served on the board alongside former SEC Chair Jay Clayton and former CIA General Counsel Courtney Elwood, who are also affiliated with President Trump.
Meanwhile, Hassett’s disclosure did not specify whether he’s required to divest his Coinbase holdings to avoid potential conflicts of interest, according to the Bloomberg report.
Hassett previously served as chairman of the White House Council of Economic Advisers from 2017 to 2019 during Trump’s first presidential term, and later returned to aid the administration’s economic responses to the Covid-19 pandemic in 2020. He also served on the advisory council of One River Digital Asset Management, a crypto fund management firm.
Last November, Hassett was nominated by Trump to lead the National Economic Council as director.
Following the pro-crypto U.S. president’s executive order, the National Economic Council created a digital asset market working group, which proposes regulations and legislation aimed at enhancing U.S. leadership in crypto and financial technology.
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