Kevin Hassett Is Trump’s Top Pick For Fed Chair, Owns $1M COIN

White House economic adviser Kevin Hassett has emerged as the top candidate to replace Jerome Powell as the US Federal Reserve Chair.

That’s according to a Bloomberg report that cited sources familiar with the matter as saying Hassett is favored to take over as the Fed’s leader, in part because he is seen implementing President Donald Trump’s desire to cut interest rates. 

If chosen, Hassett, who has disclosed owning at least $1 million worth of Coinbase (COIN) shares, will be the latest pro-crypto candidate to be appointed to a prominent post by the Trump administration.

Hassett is currently the director of the National Economic Council, which oversees the White House’s digital asset working group that Trump created at the start of the year. 

Asked by Fox News if he would take the job as Fed Chair, Hassett said, “Of course I’d have to say yes, because I want to serve my country and I want to serve my president. President Trump and I have talked a lot about it.”

If Kevin Hassett becomes Fed Chair, the implications for crypto are strongly bullish.

1. Aggressive “dove” who has publicly criticized current rates for being too high and advocated for deeper, faster cuts.

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2. Led the White House digital asset working group to shape pro-crypto…

— Juan Leon (@singularity7x) November 25, 2025

Pro-Crypto Hassett

Along with some $1 million in COIN shares, Hassett has also disclosed that he received a $50,001 annual payment from Coinbase for serving on the crypto exchange’s Academic and Regulatory Advisory Council, a body created by Coinbase in 2023.

Hassett has also previously served on the advisory board for crypto fund manager One River Digital Asset Management, and was Chair of the White House Council of Economic Advisers between 2017 and 2019, during Trump’s first term in the White House. 

Other candidates to replace Powell reportedly include Fed Governor Chris Waller, who advocated for DeFi in August, and Fed Vice Chair Michelle Bowman, who said earlier this year that staff at the Fed should be allowed to invest a small amount in crypto in order to gain a “working understanding of the underlying functionality.” 

”Too Late Powell” 

Powell’s time as the Fed Chair will end in May, while his tenure on the Fed Board extends until January 2028. 

Since taking the White House for a second term in January, Trump has consistently pressured Powell to slash interest rates as part of an effort to boost the economy, often deriding him as ”Too Late Powell.”

.@POTUS is right: Too Late Powell is too late.

The longer Powell sits on his hands and refuses to drop interest rates, the longer Americans will be priced out of the American Dream of homeownership. pic.twitter.com/MCwtwsvTd9

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— Scott Turner (@SecretaryTurner) September 2, 2025

Market Anticipates A December Rate Cut

Meanwhile, the CME Group’s FedWatch Tool is showing an increasing likelihood that Powell’s Fed will in any case cut interest rates again next month.

The Fed has already cut rates twice this year by a total of 50 basis points and the FedWatchTool now puts an 84.9% probably on another cut at the Dec. 10 meeting.

Fed interest rate cut odds for Dec. 10 (Source: CME FedWatch tool) 

Meanwhile, traders on the decentralized prediction markets platform Polymarket also anticipate that a rate cut will be announced. In a contract asking what the Fed’s decision will be in December, traders have placed 84% odds on a 25 basis point cut.  

Interest rate cuts are usually bullish for crypto because they lower borrowing costs and boost liquidity, prompting many investors to increase exposure to higher-risk assets such as crypto. 

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