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NEC Director Kevin Hassett Retained Coinbase Holdings During Crypto Policy Overhaul
Finance · Investment Banks/Brokers · cnbc · 2026-09-11
COIN
White House official Kevin Hassett held up to $5 million in Coinbase stock throughout 2025 while the administration actively reshaped federal digital asset rules.
What Happened
Financial Disclosure and Conflicts: National Economic Council Director Kevin Hassett reported holding between $1 million and $5 million in Coinbase shares at the end of 2025. This disclosure has sparked scrutiny regarding potential conflicts of interest, as Hassett leads the council responsible for coordinating the administration's economic policy.
Regulatory Policy Shifts: During the period Hassett held the shares, the Trump administration launched a major initiative to rewrite cryptocurrency regulations. This included the formation of a working group on digital assets and the reversal of previous policies, significantly impacting the regulatory environment for firms like Coinbase.
Recusal and Ethical Oversight: Hassett maintains that he has recused himself from all matters related to cryptocurrency to comply with ethical guidelines. However, ethics experts have raised concerns about the practical effectiveness of such a recusal given the central role of crypto policy in the administration's economic agenda.
Industry Influence and Market Context: Coinbase has been a primary advocate for new federal frameworks, including the Clarity Act, and has engaged in significant lobbying efforts. While the SEC recently dismissed its lawsuit against the exchange, the ongoing intersection of administration policy and industry-linked investments remains a subject of intense public debate.