National Economic Council (NEC) Director Kevin Hassett held a portfolio of Coinbase shares valued between $1 million and $5 million as of December 31, 2025. The White House economic adviser’s annual financial disclosure report came to light just as his agency was tasked with designing a national crypto policy blueprint under the Donald Trump administration.
The NEC’s role is crucial as it steers the direction of digital asset regulation. Their scope of work includes market oversight, opening traditional banking access for crypto companies, drafting stablecoin regulatory frameworks, and determining tax treatment. Holding millions of dollars in stock in the largest crypto exchange in the United States places Hassett at the center of a public official ethics debate.
Past Advisory Ties
Hassett’s connection to Coinbase is not new. Before accepting an offer to join the Trump administration, he held a seat on the exchange’s advisory board. He served on its Academic and Regulatory Advisory Council from 2021 until January 2025. The financial disclosure form in question only captures his holdings at the close of 2025. The public lacks access to data showing whether he still holds the multi-million-dollar stake, has begun trimming it, or sold it entirely throughout 2026.
The administration’s focus on new regulations is running high. Three days after Trump took the oath of office for his second term, he signed an executive order establishing the President’s Working Group on Digital Asset Markets. The creation of this interagency task force demonstrates the rapid pace of economic policymaking, whose direction is partly shaped by the agency Hassett leads.
Appearance of Conflict at the Regulatory Table
Former Securities and Exchange Commission (SEC) ethics attorney Shira Pavis Minton Kantor reacted strongly to the stock disclosure. She openly described Hassett’s holdings as a significant conflict of interest. According to her, even without direct intervention, a multi-million-dollar portfolio creates an appearance of conflict that risks undermining public trust in the government’s objectivity.
Facing intense scrutiny, Hassett offered clarification. He stated that he had consulted with government ethics officials and emphasized that he has recused himself from policymaking matters intersecting with the digital asset industry. The White House also firmly defended the conduct and track record of its economic adviser.
An official’s decision to recuse themselves from specific meetings is standard bureaucratic procedure. Yet for market participants, watching a top official shape the nation’s economic direction while holding a substantial portfolio in the same industry presents a vulnerability that tests the credibility of incoming regulations. Reported by crypto.news.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
