Kevin Hassett, the director of the National Economic Council, maintained a significant financial stake in the cryptocurrency giant Coinbase while helping lead an administration that radically overhauled federal digital asset policy. According to newly released financial disclosures from 2025, Hassett held between one million and five million dollars in vested Coinbase shares nearly eleven months into President Donald Trump’s second term. This revelation comes as the White House aggressively pursued a pro-crypto agenda, including the creation of a government bitcoin reserve and the establishment of a specialized working group designed to rewrite regulations on stablecoins and taxation.
The overlap between Hassett’s private investments and his public role has sparked criticism from ethics experts who question whether such a substantial stake creates an inherent conflict of interest. Before joining the White House, Hassett served as an advisor to Coinbase from 2021 until early 2025. While the White House insists that Hassett has remained in full compliance with ethical guidelines by recusing himself from all cryptocurrency matters, critics argue that this recusal may have effectively sidelined one of the president’s top economic advisors from a primary policy priority managed within his own council.
In previous statements, Hassett explained that he had not immediately divested his shares to avoid appearing as though he were timing a sale for profit. However, the practical implications of his recusal remain murky. Although some reports show other staffers filling his seat on specific crypto task forces, observers suggest it is unlikely that a leader of the National Economic Council could completely insulate himself from discussions involving Treasury or Commerce Department policies that intersect with digital assets.
This scrutiny arrives amid a broader trend of close ties between the current administration and the crypto industry. President Trump himself reported over one billion dollars in income from family crypto ventures in 2025, while Coinbase has seen several legal victories under the new regime, including the dismissal of a major SEC enforcement lawsuit. As Coinbase CEO Brian Armstrong continues to meet frequently with senior officials to lobby for legislative clarity via the Clarity Act, questions persist regarding where corporate influence ends and federal policymaking begins inside the West Wing.