Kevin Hassett, a supporter of cryptocurrencies and a key figure in President Trump’s economic advisory team, is reportedly a strong candidate to succeed Jerome Powell as the next chair of the Federal Reserve, as reported by Bloomberg.

Recently, Hassett has gained traction within Trump’s inner circle due to his favorable view on the president’s inclination to reduce interest rates. Bloomberg cited sources close to the situation who indicated that Hassett, currently the director of the National Economic Council, oversees a working group on digital assets initiated by Trump earlier this year.

While discussing the potential position in an interview with Fox News, Hassett expressed his commitment, stating, “Of course I’d have to say yes, because I want to serve my country and I want to serve my president.”

Hassett’s background in the cryptocurrency space is notable, as he disclosed owning at least $1 million in Coinbase stocks, alongside a salary from the exchange for his role on its advisory council. Additionally, he has held various advisory positions, including leading the White House Council of Economic Advisers under Trump.

Trump is expected to push any chosen candidate to prioritize interest rate cuts, a strategy to stimulate market activity. Currently, the market anticipates further rate adjustments as the Federal Reserve is expected to convene in December.