Trump's Treasury Secretary Nominee Is Crypto Supporter
President-elect Donald Trump has officially nominated Scott Bessent, a hedge fund manager who supports cryptocurrencies, as Treasury Secretary.
On November 22, the 47th President of the United States Donald Trump officially nominated Scott Bessent, a hedge fund manager who supports cryptocurrencies, for the position of Treasury Secretary.
According to the announcement from the Trump campaign, Scott Bessent was not only an important economic advisor during the recent election campaign but also the right person to shape the financial strategy of the new administration.
If approved by the Senate, Bessent will be responsible for implementing economic policies including tax reform, public debt management, and the plan to establish a "Strategic Bitcoin Reserve" to integrate cryptocurrencies into the US economy.
Born in 1962 in Conway, South Carolina, Bessent graduated from Yale University in 1984 and began his financial career at Brown Brothers Harriman. He served as a partner at Soros Fund Management, where Bessent made his mark with a landmark 1992 short position on the British pound that netted the firm over $1 billion in profits.
After leaving Soros Fund Management in 2000, he founded a $1 billion hedge fund and served as a senior investment advisor at Protégé Partners. In 2015, he went on to found the global strategic investment firm Key Square Group.
In addition, Scott Bessent is also one of the financial figures who openly supports cryptocurrencies and always considers crypto as the future of the financial industry. He once said on Fox Business:
"Cryptocurrency is a symbol of freedom and the future of the financial system. Crypto is attracting a generation of young investors who have never entered the market before."
Donald Trump's move to nominate Scott Bessent as Treasury Secretary has immediately received support from the crypto community. Ripple CEO Brad Garlinghouse did not hesitate to call Scott Bessent "the perfect choice" for Trump, and praised that if approved by the Senate, Bessent would be the most pro-crypto Treasury Secretary ever.
The US media recently released a list of crypto-friendly candidates who are expected to take on important roles in Donald Trump's new administration, especially the position of Chairman of the US Securities and Exchange Commission (SEC) after Gary Gensler announced his resignation in January 2025.
Not stopping there, Mr. Trump is also starting to search for personnel for a specialized position in the White House, focusing on cryptocurrency policy planning. These moves clearly reflect the new US President's previous commitments to the crypto sector, opening up hope for a more open and favorable legal environment for this industry in the future.
