This economic advisor holding a million shares of Coinbase may take charge of the Federal Reserve

Original Title: "Powell's Top Contender Hassett is Actually a Cryptocurrency Enthusiast?"
Original Author: Nicky, Foresight News

U.S. Treasury Secretary Mnuchin revealed on November 25 that the Federal Reserve Chair nomination has entered the final round of interviews, with five candidates set to undergo final evaluations this week, and President Trump is "likely to announce the results before Christmas."

Among the five candidates, White House National Economic Council Director Kevin Hassett currently has the strongest momentum. Prediction market Polymarket data shows that Hassett's probability of being elected has risen to 52%.

The market's reaction to Hassett's potential election has already begun to manifest. In late November, after Bloomberg reported him as a frontrunner, U.S. 10-year Treasury yields fell below 4% (the first time in a month), reflecting investors' expectations that his appointment would lead to more aggressive rate cuts.

This economic advisor to Trump has a significant connection to the cryptocurrency industry; he has not only publicly held Coinbase stock worth millions but also served as a member of the advisory board for the trading platform.

### An Economist Shuttling Between the White House and Think Tanks

Hassett was born in Massachusetts and completed his undergraduate degree in economics at Swarthmore College before earning his master's and Ph.D. in economics from the University of Pennsylvania. He initially developed his career in academia, teaching at Columbia Business School and New York University, and conducting macroeconomic and fiscal policy research at the Federal Reserve's research department.

Since the late 1990s, he has been a long-term economist at the American Enterprise Institute, focusing on taxation, capital formation, and long-term growth. In the public policy arena, he has provided economic advisory support to several Republican politicians, including McCain, George W. Bush, and Romney.

![](https://admin2049.chaincatcher.info/upload/image/20251126/1764152457759-27806.webp)

Hassett's government career spans two Trump administrations. He served as the Chairman of the President's Council of Economic Advisers from 2017 to 2019 and briefly returned to the White House as a senior advisor during the pandemic in 2020. In 2025, after Trump returned to the White House, he appointed him as the Director of the National Economic Council, making him one of the most important architects of current White House economic policy. During the Treasury's process of screening candidates for the Federal Reserve Chair, he is seen as a potential candidate most aligned with Trump's policy orientation.

### Intersection with the Cryptocurrency Industry

Although Hassett rarely discusses stablecoins or payment system reforms as frequently as some Federal Reserve officials, he has a documented record of interaction with the cryptocurrency industry. According to financial disclosures released by the U.S. Office of Government Ethics, he holds at least $1 million in Coinbase stock, potentially up to $5 million. These stocks are compensation from his time as a member of Coinbase's Academic and Regulatory Advisory Board, which also includes several former policymakers.

This experience indicates that Hassett does not merely observe the cryptocurrency industry from a regulatory perspective but has directly participated in discussions about its governance and policy framework. While public records do not show that he holds Bitcoin or other on-chain assets, his stakes in related companies lead the market to generally view him as a relatively friendly policy figure towards the cryptocurrency industry.

He has participated in internal White House working groups on digital asset policy, advocating for space for innovation within the regulatory framework and considering cryptocurrency technology as an important variable influencing the future economic structure. From a broader policy perspective, he has repeatedly advocated for a faster pace of rate cuts, believing that a loose monetary environment supports economic growth. Such positions have historically been seen as favorable to risk assets, including cryptocurrencies.

### Why the Federal Reserve Chair is So Important to the Cryptocurrency Industry

![](https://admin2049.chaincatcher.info/upload/image/20251126/1764152458551-943471.webp)

The Federal Reserve Chair is the highest decision-maker in U.S. monetary policy, but the influence extends far beyond interest rates themselves. With the establishment of a stablecoin regulatory framework under the "GENIUS Act" in 2025, the Federal Reserve and banking regulatory system have been formally included as core supervisory entities for stablecoin issuance.

As the scale of "on-chain dollars" continues to expand, the relationship between stablecoin reserves and the U.S. Treasury market will become increasingly tight. If the issuance of stablecoins rises, demand for Treasury bonds may increase, thereby altering yields, liquidity, and the usage of the dollar system, which in turn could affect capital inflows into cryptocurrency assets.

Whether banks and non-bank financial institutions can compliantly participate in cryptocurrency or stablecoin businesses depends on the attitudes of the Federal Reserve and relevant regulatory agencies. The degree to which the traditional financial system is opened will determine whether the cryptocurrency industry maintains an "independent ecosystem" or fundamentally integrates into mainstream finance.

This means that every Federal Reserve Chair candidate, regardless of whether they directly discuss cryptocurrency topics, will have a structural impact on the industry.

[Original Link](https://foresightnews.pro/article/detail/92528)