Billionaire hedge fund manager Scott Bessent, nominated by President-elect Donald Trump for Treasury Secretary, is expected to divest from various assets, including investments in Bitcoin (BTC) exchange-traded funds (ETFs), to avoid any conflicts of interest with his new position.

Key Points:

• Bessent will liquidate assets valued at over $700 million, including BTC ETF investments valued between $250,000 and $500,000.
• His financial disclosures reveal other investments and loans, raising concerns about conflicts of interest.
• Bessent, who has previously worked with billionaire George Soros, aims to maintain integrity in his role and has committed to mitigate apparent conflicts if confirmed.
• If confirmed, Bessent will oversee the management of federal debt and economic policies, potentially impacting tax initiatives and banking regulations.

"I promise to avoid any actual or apparent conflict of interest in the event that I am confirmed for the position of secretary of the Department of Treasury," Bessent stated.

Translation: "Jeg lover at unngå enhver faktisk eller tilsynelatende interessekonflikt i tilfelle jeg blir bekreftet til stillingen som sekretær for departementet for statskassen."