Overview

• Scott Bessent, President-elect Donald Trump's Treasury Secretary nominee, plans to divest over $700 million in assets, including real estate, ETFs, and cryptocurrency holdings, to avoid conflicts of interest.
• Bessent will resign from his hedge fund, Key Square Capital Management, and other leadership roles, such as at Rockefeller University and his family foundation, if confirmed by the Senate.
• His disclosed portfolio includes significant investments in U.S. Treasury bills, major stock index ETFs, and between $250,001 and $500,000 in BlackRock's Bitcoin ETF.
• As the first openly gay nominee for Treasury Secretary, Bessent's confirmation would mark a historic moment, though critics highlight concerns over the Trump administration's broader LGBTQ+ policies.
• Bessent's confirmation hearing is scheduled for January 16, where he is expected to face questions on his alignment with Trump's economic agenda, including tax cuts, deregulation, and cryptocurrency adoption.