#Treasury Secretary Nominee Sells Cryptocurrency#

President-elect Donald Trump's nominee for Treasury Secretary, Scott Bessent, will resign from his position and sell his stake in the Key Square Group, pending Senate confirmation, to avoid conflicts of interest. Bessent disclosed at least $521 million in assets in his personal financial disclosure, including two tranches of U.S. Treasury bills, two Invesco funds, and open positions in foreign currency versus the U.S. dollar. He also listed a personal investment of no more than $500,000 in an iShares exchange-traded fund linked to the price of bitcoin. Bessent will divest the crypto-based ETF, as well as other assets he holds through Key Square Capital. In addition, Bessent listed at least $5 million in residential real estate in the Bahamas and at least $1 million in art and antique collections. Some of Bessent's potential conflicts of interest will take longer to resolve, as he has invested at least $250,000 in three funds that allow him to withdraw no more than 25% of his holdings per quarter, leaving him until the end of September to fully divest. Bessent said he will recuse himself from specific decisions that would have a predictable effect on stock value.