#Treasury Secretary Nominee Sells Cryptocurrency#

President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, will step down from his hedge fund Key Square Group and sell his stake after Senate confirmation to avoid conflicts of interest. Bessent disclosed at least $521 million in assets in his personal financial disclosure, including nine top-tier holdings tied to his hedge fund, as well as a personal investment of less than $500,000 in an iShares exchange-traded fund tied to the price of Bitcoin. Bessent will divest himself of the cryptocurrency-based ETF, along with other assets that could create conflicts of interest. Bessent also listed residential real estate in the Bahamas worth at least $5 million, as well as an art and antique collection worth at least $1 million. Some of Bessent's potential conflicts of interest will take longer to resolve, he has invested at least $250,000 in three funds that allow him to withdraw no more than 25% of his stake quarterly, he will not be fully out of his holdings until the end of September. Bessent said he would recuse himself from specific decisions that could predictably affect the value of the stocks.