Scott Bessent, Pro-Crypto Hedge Fund Titan, Donald Trump’s Top Pick for Treasury Secretary

Key Takeaways

• Hedge fund billionaire Scott Bessent emerges as Trump’s top pick for Treasury Secretary.
• Bessent, a former Soros associate, has been a key economic advisor to Trump’s campaign.
• Known for his pro-crypto stance, Bessent has praised Trump’s crypto-forward policy focus.

Scott Bessent, founder of Key Square Group and a longtime Wall Street heavyweight, is reportedly among President-elect Donald Trump’s leading choices for Treasury Secretary.

Bessent’s track record as a seasoned investor and his pro-crypto stance align him closely with Trump’s policy vision, especially as Trump looks to make the United States a global crypto hub.

Throughout the election campaign, Bessent has publicly praised Trump’s pro-crypto positions, drawing comparisons between cryptocurrency and personal freedom—an alignment that has put him in the spotlight for this pivotal economic role.

From Soros to Trump’s Inner Circle

Bessent’s Wall Street acumen and extensive experience have made him one of Trump’s most trusted financial allies.  

According to Reuters , Bessent recently met with Trump, fueling speculation about his potential appointment.

Although he hasn’t commented publicly on a government position, sources close to him suggest that a key role has indeed been discussed.

Crypto-based prediction platforms like Polymarket place Bessent as the frontrunner for Treasury Secretary, ahead of billionaire John Paulson.

The Treasury Secretary wields immense influence over U.S. financial policy, overseeing national debt, shaping tax policy, and managing domestic and international economic recommendations.

A pro-crypto Treasury leader could have transformative implications for the industry, especially as crypto advocates call for clearer regulatory pathways.

From Yellen to Bessent: Potential for a Paradigm Shift

Trump’s presidential bid received notable support from crypto-friendly voters, many of whom were drawn by his promises to undo what they view as restrictive Biden-era policies.

Current Treasury Secretary Janet Yellen has been vocal about the risks of cryptocurrency, describing Bitcoin as inefficient and advocating for stricter oversight.

The crypto sector has often viewed Yellen’s tenure as stifling, contributing to challenges like “Operation Chokepoint 2.0,” where crypto firms faced roadblocks in accessing banking partnerships.

Under Trump’s incoming administration, a new Treasury Secretary with a more open stance on crypto could pave the way for substantial regulatory change.

Trump has pledged to remove what he calls “barriers” to crypto innovation, signaling a shift that could see U.S. policy embrace rather than resist the growing digital asset economy.

What Bessent Could Bring To the Role

If appointed, Bessent would serve as the President’s chief economic advisor, shaping policy on issues from taxation to financial regulation.

His influence on Congress could help foster a legislative environment that is more welcoming to crypto, including clearer guidelines for digital assets and a framework for stablecoin regulation.

The potential appointment of Bessent as Treasury Secretary reflects a broader trend toward more crypto-friendly leadership in the U.S., a prospect that has the industry hopeful for a more progressive, structured approach to regulation.