Avoid conflicts of interest! Trump's new Treasury Secretary, Bezent, said that if confirmed, he will divest himself of Bitcoin ETFs under his name.

According to The New York Times, Scott Bessent, the nominee for the US Treasury Secretary by President-elect Donald Trump and a hedge fund billionaire, stated that in order to avoid potential financial conflicts of interest from the new position, once confirmed, he will sell off several assets, including his holdings of BTCSpot ETF.

US political news website Politico reported earlier that the Senate Finance Committee will hold personnel confirmation hearings on January 16 to review Trump's new Treasury Secretary nomination, according to informed sources.

According to the Code of Conduct Agreement and Financial Disclosure documents submitted to the Senate by Scott Bessent on January 11, his total assets and investments exceed $700 million, including BTCSpot ETF worth between $250,000 and $500,000.

In addition, other assets that may constitute a conflict of interest for Scott Bessent include: a margin loan of over 50 million US dollars from Goldman Sachs, an account for trading renminbi, and his shares in the conservative publisher 'All Seasons'.

Scott Bessent is the founder of hedge fund company Key Square and has previously served as the Chief Investment Officer of the Soros family office. He is also a staunch supporter of cryptocurrencies.

In a letter to the Office of Government Ethics at the US Department of the Treasury, he stated that if confirmed as Treasury Secretary, he would make every effort to avoid any actual or potential conflicts of interest. This includes selling assets that may involve financial conflicts of interest in his name, as well as shutting down Key Square, a hedge fund he founded in 2016.

If Scott Bessent is successful in assuming office, he will face a series of challenges, including how to deal with the rapidly expanding debt in the United States, while coordinating with the Trump administration's economic policies, such as promoting tax cuts, limiting social welfare, and imposing heavy tariffs.

〈Avoid conflicts of interest! Trump's new Treasury Secretary Bessen: If he is confirmed, he will clear the BTC ETF. This article was first published in "Blockers".