#Treasury Secretary Nominee Sells Crypto Assets#

President-elect Donald Trump’s nominee for Treasury Secretary, Scott Bessent, will resign from Key Square Group and divest his stake in the firm upon Senate confirmation to avoid conflicts of interest. Bessent disclosed assets worth at least $521 million in his personal financial disclosures, including nine top-tier holdings related to his hedge fund, as well as a personal investment of no more than $500,000 in an iShares exchange-traded fund that is linked to the price of Bitcoin. Bessent will divest from the cryptocurrency-based ETF, as well as other assets that could create conflicts of interest. He will recuse himself from any specific decisions that would have a predictable impact on the value of the stock, and will fully divest from his holdings in three funds by the end of September. Bessent also listed residential real estate in the Bahamas valued at least $5 million and an art and antiques collection valued at least $1 million.