Kevin Hassett, the director of the National Economic Council in the U.S., disclosed information about a substantial stake in Coinbase Global Inc. valued between $1 and $5 million.
Hassett's Stake in Coinbase
Hassett reported his stake in Coinbase in connection with his advisory role at the company. According to a draft financial disclosure released by the federal Office of Government Ethics (OGE), his investments in the cryptocurrency exchange amount to a significant sum.
Financial Reporting and Earnings
Reports indicate that Hassett's total assets are worth at least $7.6 million. Prior to starting as NEC director in January 2025, he earned $1.5 million. His income also includes speaking fees from firms like Goldman Sachs and CitiGroup, along with $50,000 from Coinbase for being on the advisory council.
Role of the Ethics Office in Disclosure
The draft disclosure, pending approval by the OGE, will clarify whether Hassett must divest his Coinbase shares to avoid conflicts of interest. The Ethics Office faces challenges in managing disclosures due to the complicated finances of many of Trump's appointees.
Kevin Hassett's disclosure regarding his stake in Coinbase highlights the importance of financial transparency within the administration. Further clarifications from the Ethics Office are expected to shed light on the potential conflicts of interest.
