TL;DR:
- Kevin Hassett disclosed a holding valued between $1 million and $5 million in Coinbase stock as of December 31, 2025.
- The official earned over $50,000 for regulatory advisory work at the exchange prior to joining the White House in January 2025.
- The White House confirmed that Hassett maintains a formal recusal from regulatory matters involving cryptocurrencies.
The Director of the National Economic Council, Kevin Hassett, reported an equity stake worth up to five million dollars in Coinbase stock at the close of 2025. This figure was disclosed in his latest annual financial report, submitted to government ethics authorities.
The public disclosure form, first reported by CNBC, places the official’s holding within an estimated range of $1 million to $5 million as of December 31, 2025. Because federal reporting standards categorize assets within broad value bands, the filing does not detail the precise number of shares held or their purchase price.
Hassett served on Coinbase’s Academic and Regulatory Advisory Council from 2021 until January 2025, when he stepped into the leadership of the National Economic Council (NEC). Earlier filings from the first half of 2025 indicate the economist earned more than $50,000 for his professional consulting services at the firm.
Corporate ties and White House oversight
Ownership of the shares has drawn scrutiny from regulatory watchdogs given the central influence of the NEC over US economic policy. In response, Shira Pavis Minton Kantor, a former ethics attorney at the Securities and Exchange Commission (SEC), noted that the size of this equity position could represent a conflict of interest or create the appearance of one.
The administration defends the propriety of the director’s actions. A White House spokesperson stated that Hassett formally recused himself from all policy discussions involving digital assets following consultations with designated ethics officials.
In June 2025, the official stated on television that he retained the shares to avoid any perception of market speculation while ethics committees reviewed his arrangement. The official filing documents no legal infractions or direct involvement by Hassett in operational policies designed to benefit the exchange platform.
The regulatory environment governing digital assets has undergone structural shifts since the start of the administration’s term. Three days after taking office, the executive branch issued an order creating the Presidential Working Group on Digital Asset Markets, directing its policy recommendations directly to the NEC office.
Public lobbying records indicate Coinbase contributed $1 million to Trump’s inaugural committee in late 2024. Simultaneously, the company accelerated its institutional advocacy to shape legislative frameworks for stablecoins and market structure.
The available filing covers holdings earned through the end of fiscal year 2025. Consequently, it does not confirm whether Hassett liquidated portions of his equity during 2026 or obtained additional written ethics waivers.
Industry observers remain focused on the upcoming round of financial disclosures scheduled to be submitted to the Office of Government Ethics during the second half of 2026.
