White House National Economic Council Director Kevin Hassett held between $1 million and $5 million worth of Coinbase stock at the end of 2025, according to CNBC, which cited the latest financial disclosure filing. The disclosure also shows Hassett had served as a Coinbase adviser from 2021 to January 2025 before joining the White House. Because the filing only covers holdings through the end of 2025, it does not establish whether he still owns the shares now.
The holding has drawn attention because the NEC has a central role in the Trump administration’s crypto agenda. Three days after returning to the White House, President Donald Trump created a digital asset markets working group within the NEC to develop recommendations on crypto regulation, banking, stablecoins and tax policy. Hassett said he had recused himself from crypto-related matters after consulting government ethics officials, and the White House said he "has complied and continues to fully comply with all ethics requirements." Still, former SEC ethics lawyer Painter said the holding represented a "serious conflict of interest," or at minimum the appearance of one. CNBC also noted that Coinbase spent millions of dollars during the 2024 U.S. election and that its CEO has maintained direct contact with Trump and senior officials.
White House National Economic Council (NEC) Director Kevin Hassett held between $1 million and $5 million in Coinbase stock at the end of 2025, CNBC reported, citing the latest financial disclosure filing.
The filing shows Hassett served as a Coinbase adviser from 2021 to January 2025 before joining the White House. Because the disclosure only covers holdings through the end of 2025, it does not confirm whether he still owns the shares.
Disclosure raises questions because of NEC’s crypto role
The investment has drawn attention because the NEC has a significant role in the Trump administration’s crypto agenda. Three days after Trump returned to the White House, he established a digital asset markets working group inside the NEC to prepare recommendations on cryptocurrency regulation, banking, stablecoins and taxes.
Hassett said he had recused himself from crypto-related matters after consulting government ethics officials. The White House said he "has complied and continues to fully comply with all ethics requirements."
Former SEC ethics lawyer challenges the arrangement
Former SEC ethics lawyer Painter said the holding amounted to a "serious conflict of interest," or at least created the appearance of one.
CNBC also reported that Coinbase spent millions of dollars in the 2024 U.S. election and that its CEO has maintained direct contact with Trump and senior officials.
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