{"id":7291,"date":"2025-01-13T05:31:56","date_gmt":"2025-01-13T05:31:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=7291"},"modified":"2025-01-13T05:31:56","modified_gmt":"2025-01-13T05:31:56","slug":"trumps-treasury-pick-to-divest-bitcoin-etf-holdings-to-eliminate-conflict-of-interest-report","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=7291","title":{"rendered":"Trump&#8217;s Treasury Pick to Divest Bitcoin ETF Holdings to Eliminate Conflict of Interest: Report"},"content":{"rendered":"<div>\n<p>Billionaire hedge fund manager Scott Bessent, President-elect Donald Trump&#8217;s nominee for Treasury Secretary, plans to dispose of several assets, including investment in bitcoin (BTC) exchange-traded funds (ETF), to avoid potential conflicts of interest with his new role, <a href=\"https:\/\/www.nytimes.com\/2025\/01\/11\/business\/scott-bessent-treasury-divest.html\" target=\"_blank\">according to a report by<\/a> The New York Times.<\/p>\n<p>On Saturday, Bessent, who once worked for billionaire liberal philanthropist George Soros, filed the ethics agreement and financial disclosures as required for the impending Senate confirmation, revealing assets and investments worth over $700 million. The tally includes BTC ETF holdings worth $250,000 to $500,000, according to <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/25\/01\/42936887\/trumps-treasury-pick-scott-bessent-reveals-up-to-500000-bitcoin-stake-via-blackrocks-etf\" target=\"_blank\">media reports.<\/a><\/p>\n<p>The other key investments posing a potential conflict of interest include a margin loan of more than $50 million with Goldman Sachs, an account for trading China&#8217;s currency and a stake in conservative publisher All Seasons.<\/p>\n<p>Bessent, in a letter to the ethics office, promised to &#8220;avoid any actual or apparent conflict of interest in the event that I am confirmed for the position of secretary of the Department of Treasury.&#8221;<\/p>\n<p>If confirmed, the pro-crypto Bessent would face the challenging task of managing the burgeoning federal debt amid Trump&#8217;s plans to extend expiring tax cuts and eliminate taxes on social security benefits.<\/p>\n<p>Bessent is an advocate for tax reform and deregulation, particularly to boost bank lending and energy production. In October last year, <a href=\"https:\/\/www.coindesk.com\/markets\/2024\/10\/14\/trumps-new-administration-would-support-strong-dollar-economic-advisor-says\" target=\"_blank\">Bessent said<\/a> that the new Trump administration would likely pursue a strong dollar in line with Washington&#8217;s multi-decade policy.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire hedge fund manager Scott Bessent, President-elect Donald Trump&#8217;s nominee for Treasury Secretary, plans to dispose of several assets, including investment in bitcoin (BTC) exchange-traded funds (ETF), to avoid potential conflicts of interest with his new role, according to a report by The New York Times. On Saturday, Bessent, who once worked for billionaire liberal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-7291","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7291"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/7291\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}