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President-elect Donald Trump’s nominee for the Treasury Department, Scott Besant, announced $700 million in investment assets. According to the New York Times report; Besant will sell some of these assets to avoid a conflict of interest, as is the case with many who enter politics.
Bitcoin spot ETFs are among the assets that Besant will sell, according to the news. A billion dollar hedge fund manager announced that he has between $250,000 and $500,000 worth of Bitcoin spot ETFs. The news also reported that Besant made the official announcement on Saturday.
Among the assets Besant is expected to sell are shares in the conservative publishing company All Seasons, the successful businessman is also expected to close his $50 million margin loan account with Goldman Sachs, which is known for trading Chinese yuan. was opened for
Why would it sell?
As it is known, politicians are not prohibited from investing in the US, but strict rules and standards apply to high-level positions such as the president, vice president and cabinet ministers.
In particular, the possibility that an investment made by someone responsible for the economy will produce a profit may pose a risk of conflict of interest. For example, the finance minister may learn of a law or decree regarding Bitcoin and make additional purchases to increase his profits. This will raise doubts about the person concerned.
Pelosi is still under debate.
Former Speaker of the House of Representatives Nancy Pelosi has come under fire for her buying and selling of stocks in the face of many laws. Pelosi’s wealth, which is more than $250 million, is one of the issues that have been questioned in the US for years, including Pelosi’s wife’s investments.
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