Hassett held up to $5M in Coinbase stock during crypto policy shifts

Kevin Hassett held between $1 million and $5 million in Coinbase shares at the end of 2025. This position persisted nearly eleven months into the current administration. The disclosure documents list these as vested shares. He had not fully divested the investment by year-end.

The filing was released recently but covers only the 2025 period. It does not confirm if he still holds the assets today. Hassett served as a Coinbase advisor from 2021 until January 2025. He joined the White House shortly after that transition.

Role in digital asset policy

President Trump established a working group on digital assets three days after taking office. This body operated within the National Economic Council. Hassett’s office was designated as the channel for final recommendations to the President. David Sacks chaired the group during this period.

The group proposed changes to banking, stablecoins, and taxation rules. The administration reversed previous policy positions on crypto. It also created a government bitcoin reserve. Congress is currently moving toward a broader federal framework.

Ethics and recusal measures

Hassett stated he recused himself from crypto matters. He cited guidance from ethics officials as the reason for this step. He avoided selling the shares to prevent the appearance of timing a sale. This approach was discussed on CNBC’s Squawk Box in June 2025.

White House spokesperson Kush Desai confirmed full compliance with ethical requirements. The administration asserts that recusal continues to this day. However, the specific scope of his exclusion remains undefined. It is unclear which meetings or decisions he avoided.

Potential conflicts of interest

Virginia Canter of the Democracy Defenders Fund identified a major conflict of interest. She noted that recusal could sideline a top economic advisor. Crypto policy intersects with agencies like the Treasury and SEC. These bodies were represented on the working group.

The working group’s final report listed Robin Colwell as the NEC representative. Colwell is a deputy assistant to the president. This suggests Hassett may not have been the primary point of contact. The extent of his exclusion from policy discussions remains a question.