Crypto links under spotlight as Kevin Hassett leads Fed chair poll

Prediction-market data shows Hassett with roughly a 55–56% implied chance of being nominated, well ahead of rivals such as current Fed Governor Christopher Waller and former Governor Kevin Warsh. The odds have risen sharply in the last 24 hours, coinciding with intensified speculation that Trump wants a chair who favors faster interest-rate cuts and is comfortable with the administration’s pro-crypto direction.

Hassett currently serves as director of the National Economic Council and previously chaired the Council of Economic Advisers. He has recently backed a 50-basis-point rate cut at the Federal Reserve’s December meeting and has argued through 2024 and 2025 for a more accommodative monetary stance, in contrast to what he and allies describe as a hawkish approach under Powell.

At the same time, Hassett has built direct links to the digital-asset sector. Coinbase confirmed in late November that he sits on its Global Advisory Council, and public disclosures show he holds a stake in Coinbase shares worth at least $1 million. He has also taken part in a White House digital-asset working group that drafted recommendations on crypto regulation, stablecoins and illicit-finance controls.

Those connections have prompted both conflict-of-interest questions and expectations of a friendlier stance toward crypto if he becomes Fed chair. Analysts note that the Federal Reserve plays a central role in shaping how banks handle custody, payments and liquidity for crypto exchanges and stablecoin issuers, so a chair with personal exposure to a major crypto platform would face close scrutiny over recusal policies and disclosure.

Trump, meanwhile, has stepped up public criticism of Powell as the search enters its final stage. In recent remarks, he complained that rates remain too high and repeated that he would “love” to replace the current chair, whose term runs until May 2026. Treasury Secretary Scott Bessent, who is leading the interview process, has said there is a “very good chance” a new chair will be announced before Christmas, adding that five finalists are under consideration.

According to accounts of internal discussions, final interviews are being conducted by Bessent, with Trump indicating he already has a preferred candidate but keeping the name private while observing market reaction. Alongside Hassett, other names on the shortlist include Waller, Warsh, Fed Governor Michelle Bowman and asset-management executive Rick Rieder.

Commentary from market strategists suggests that a Hassett appointment would be interpreted as supportive of lower rates and potentially positive for digital assets, given his prior work with Coinbase and his role in shaping pro-crypto policy proposals. Others, however, focus on the governance questions raised by a Fed chair who has large equity holdings in a regulated crypto company at a time when the central bank is weighing rules for stablecoins, bank-crypto interfaces and potential central bank digital currency experiments.