White House advisors held up to 5 million dollars in Coinbase shares during the advancement of cryptocurrency policy

According to a report by CNBC citing the latest financial disclosure documents, Kevin Hassett, the Director of the National Economic Council (NEC) at the White House, holds between $1 million and $5 million in Coinbase stock as of the end of 2025. Previously, Hassett served as an advisor to Coinbase from 2021 until January 2025, before joining the White House. Since the disclosure documents only cover holdings up to the end of 2025, it cannot be confirmed whether he still holds these shares.

This investment has raised concerns because the NEC plays an important role in the cryptocurrency agenda of the Trump administration. Three days after Trump returned to the White House, a digital asset market working group was established within the NEC, responsible for developing regulatory, banking, stablecoin, and tax proposals for cryptocurrencies. 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." However, former SEC ethics lawyer Kantor pointed out that this holding constitutes a "significant conflict of interest" or at least presents the appearance of a conflict. Coinbase spent millions of dollars in the 2024 U.S. elections, and its CEO maintains direct contact with Trump and senior officials.