With current Federal Reserve Chairman Jerome Powell’s term set to expire in May 2026, President Donald Trump is accelerating his push for a new Fed chair. By early December 2025, Kevin Hassett, the Director of the White House National Economic Council, has emerged as the leading candidate to replace Powell. Prediction markets such as Kalshi and Polymarket give his nomination a probability of 70-80%.
This economist, not only trusted by Trump but also known for his unwavering support of interest rate cuts and his bullish stance on cryptocurrencies, is seen as a key figure who could trigger a new bull run in digital assets.
1. Who is Kevin Hassett? From Academic Elite to Trump’s “Economic Confidant”
Kevin Hassett holds a PhD in Economics from the University of Pennsylvania and has had a career spanning academia, think tanks, and senior government roles:
- 1990s: He served as a senior economist at the Federal Reserve and as a professor at Columbia Business School.
- 1997–2017: Hassett was a senior fellow at the conservative think tank American Enterprise Institute (AEI), where he focused on tax reform and investment policy.
- 2017–2019: He chaired the President’s Council of Economic Advisers (CEA) under the Trump administration, playing a pivotal role in crafting the Tax Cuts and Jobs Act, which slashed corporate tax rates.
- 2025–Present: Hassett returned to the White House as Director of the National Economic Council, providing macroeconomic and financial policy advice directly to the president.
Hassett’s relationship with Trump can be summarized as one of “expertise and loyalty.” Not only does he possess extensive policy-making experience, but he has also repeatedly echoed Trump’s calls for aggressive interest rate cuts in public forums. In November 2025, he bluntly stated, “If I were the Fed Chair, I would cut interest rates now.” This combination of policy knowledge and loyalty has set him apart from other candidates like Waller and Wosh.
2. Personal Wealth Accumulation: Not Through Entrepreneurship, but the “Elite Path”
Hassett did not amass wealth through starting a company or speculative ventures; instead, his wealth stems from over 30 years of a stable career in high-level policy-making and academia. According to financial disclosure documents submitted to the U.S. Office of Government Ethics (OGE) for 2024–2025:
- Minimum total assets: Exceeding $7.6 million.
- Primary sources of income: Government salary, think tank roles, consulting fees, speaking engagements, and investment returns.
- Key highlights: Hassett owns Coinbase stock worth between $1 million and $5 million and receives an annual salary of $50,001 for serving as an academic and regulatory advisor to the company.
While his net worth is estimated between $3 million and $5 million (with some assets undisclosed), crypto-related assets represent a significant portion of his portfolio. Notably, since 2024, Coinbase’s stock has surged by over 150%, meaning Hassett’s holdings likely have unrealized gains worth millions of dollars.
3. A Firm “Pro-Crypto” Stance: Policy and Personal Interests Aligned
Hassett’s support for cryptocurrencies is driven not only by personal investment interests but also by his policy vision:
- Policy Advocacy: As NEC Director, he led the creation of the White House Digital Assets Working Group, pushing for a stablecoin regulatory framework, enabling banks to serve crypto businesses, and advocating for including Bitcoin in the national strategic reserve (echoing Trump’s idea of a “national Bitcoin reserve”).
- Public Endorsement: In September 2025, he declared that “Bitcoin will rewrite the financial rules,” emphasizing the importance of digital assets for U.S. financial sovereignty and innovation.
- Institutional Design: He advocates for “clear regulation rather than suppression,” opposing excessive SEC enforcement and supporting legislative clarity on crypto asset classifications, paving the way for ETFs, DeFi, and tokenized Real World Assets (RWAs).
This stance makes him an “ideal candidate” in the eyes of both Wall Street and the crypto community: someone who understands technological trends and can influence monetary policy direction.
4. Potential Positive Effects on the Crypto Market if Hassett Takes Office
If Hassett is formally nominated as Fed Chairman (with an expected announcement by Trump before Christmas 2025), the market could see three key benefits:
Monetary Policy Shift to “Super Dovish” Stance Hassett has repeatedly called for “faster and deeper rate cuts,” even suggesting a 50-basis-point cut in one go. A more dovish monetary policy would:
- Lower risk-free rates, making riskier assets more attractive.
- Shift capital from bonds and cash to more volatile assets like Bitcoin and Ethereum.
- Historical data shows that every time the Fed enters a rate-cutting cycle, Bitcoin’s average price increase exceeds 200%.
Significant Improvement in Regulatory Environment While the Fed does not directly regulate the crypto industry, Hassett’s influence could help coordinate with agencies like the Treasury, OCC, and FDIC to:
- Accelerate the approval of a spot Ethereum ETF.
- Push forward federal legislation on stablecoins.
- Encourage banks to integrate crypto custody and payment services.
Enhanced Market Confidence and Narrative Strengthening Hassett’s appointment itself would signal a “policy pivot,” challenging the old narrative of the Fed being hostile to crypto. It would strengthen the narratives of the “digital dollar era” and “mainstreaming decentralized finance,” potentially attracting large-scale crypto allocations from traditional financial institutions.
Analysts predict that if Hassett assumes the role of Fed Chair in 2026, Bitcoin could surge to $150,000–$200,000, and the total crypto market cap could exceed $5 trillion again.
5. Will His Appointment Spark a “Policy + Liquidity + Narrative”-Driven Bull Market?
Kevin Hassett represents not just Trump’s attempt to “politicize” the Fed, but a critical pivot point for traditional financial systems to embrace digital assets. His professional background, personal holdings, and policy positions align to create a powerful “pro-crypto” synergy. While his Coinbase stock could raise concerns about potential conflicts of interest (possibly requiring divestiture), the market is more focused on the macro liquidity boost and institutional validation he could bring.
Should he ultimately take the reins at the Fed, Hassett might be the one to usher in the most policy-driven crypto bull market in history—this time, not driven by grassroots enthusiasm, but ignited by top-down design from Washington.
Disclaimer:This article is reposted content and reflects the opinions of the original author. This content is for educational and reference purposes only and does not constitute any investment advice. Digital asset investments carry high risk. Please evaluate carefully and assume full responsibility for your own decisions.
Author Bio: The author, Lao Sun, is a multilingual cryptocurrency and Web3 observer, content creator, and industry evangelist based in Hong Kong. Fluent in Chinese, English, and French, he is dedicated to interpreting the development trends of the global blockchain ecosystem from a cross-cultural perspective, with a particular focus on Hong Kong’s unique positioning and potential as an international financial hub in the Web3 wave.
Article Link:https://mp.weixin.qq.com/s/7ydTt-s82l5ksOp-usym7w?poc_token=HOskMWmjxd86EBY-3S97rxqeQTdnXEinuQLReoA2
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