White House Advisor's $5 Million Stake in Coinbase Raises Concerns

Kevin Hassett, the Director of the National Economic Council at the White House, held between $1 million and $5 million in Coinbase stock at the end of 2025. Hassett served as an advisor to Coinbase from 2021 until January 2025, before joining the White House. The disclosed documents only cover the holdings as of the end of 2025, and it is unclear whether he still holds these shares. This investment has raised concerns due to the NEC's significant role in the Trump administration's cryptocurrency agenda. Just three days after Trump returned to the White House, a digital asset market working group was established within the NEC to formulate recommendations on cryptocurrency regulation, banking, stablecoins, and taxation. Hassett stated that he has avoided cryptocurrency-related matters after consulting with government ethics officials, and the White House claimed he has "always and continues to fully comply with all ethical requirements." Former SEC ethics lawyer Kantor pointed out that this holding constitutes a "significant conflict of interest" or at least creates the appearance of a conflict. Coinbase has spent millions in the 2024 U.S. elections, and its CEO maintains direct contact with Trump and senior officials.

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