White House Economist Held $1 Million to $5 Million in Coinbase Stock During Crypto Policy Push

What the disclosure shows

Kevin Hassett's 2025 annual financial disclosure reports vested Coinbase stock valued between $1 million and $5 million at the end of the year. The filing notes he had not fully divested nearly 11 months into President Donald Trump's second term and references his prior work advising Coinbase. It was released recently but only covers 2025, so it does not indicate whether he still holds the shares.

Before he moved to the White House, Hassett served as an advisor to Coinbase from 2021 through January 2025. Asked by CNBC in June 2025 about the stake, he said he held off on selling to avoid appearing to time a sale. He added that he had guidance from "the ethics people" and was determining "what needs to be done." On CNBC's Squawk Box he added, "Meanwhile, I have recused from any matter that's related to crypto." The White House would not respond to CNBC's inquiries about whether he still owns the shares or whether the stake has limited his involvement in matters under his office.

How crypto policy ran through the NEC

On the third day of his 2025 tenure, Trump set up the President's Working Group on Digital Asset Markets inside the National Economic Council. His order included the NEC director's role or a designated stand-in as a member and required that the group's final recommendations reach Trump through Hassett's office. The working group was chaired by then White House crypto advisor David Sacks and recommended broad changes spanning digital-asset markets, banking, stablecoins and taxation.