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Treasury Secretary Nominee Discloses Up to $500K Stake in Bitcoin ETFs

President-elect Donald Trump’s choice for Treasury Secretary, Scott Bessent, has disclosed ownership of spot Bitcoin Exchange-Traded Fund (ETF) holdings worth as much as $500,000. If confirmed for the position, the investor who co-founded Key Square Group says he will resign from the company and divest his investments. Bitcoin Exposure Through IBIT A document released on Saturday by the U.S. Office of Government Ethics (OGE) revealed Bessent’s ownership of the stake in a BTC ETF. It showed that the prospective government official held between $250,000 and $500,000 worth of BlackRock’s iShares Bitcoin Trust ETF (IBIT) shares. The document also highlighted other investments made by the 62-year-old, including interests in the SPDR S&P 500 Trust, Invesco’s QQQ Trust, and its S&P 500 Equal Weight ETF. It also listed a residential property in the Bahamas worth $5 million and an art collection priced at at least $1 million. In total, Bessent revealed holdings estimated at about $521 million, although analysts believe his portfolio could be worth much more as he is only required to list the value of his assets within broad ranges. U.S. laws require high-ranking government officers to disclose their investments as well as plans for divestments if any of their holdings may pose a conflict of interest. Bessent, who was nominated to the powerful Treasury docket by Trump on November 22, 2024, is a well-known crypto supporter, previously describing digital assets as “integral to economic freedom and innovation.” He beat out a long list of contenders, including Cantor-Fitzgerald CEO and co-chair of the Trump transition team Howard Lutnick, ex-Federal Reserve Governor Kevin Warsh, Tennessee lawmaker William Hargety, and Apollo Global executive Marc Rowan. Lutnick was picked to lead the Commerce Department. Trump has also appointed several other crypto supporters to key positions in his administration, including Robert F. Kennedy as Secretary for Health and Human Services, Elon Musk and Vivek Ramaswamy to co-lead a new department to streamline government efficiency, and David Sacks as his crypto and AI czar . Will Bessent Liquidate BTC Position? According to the OGE filing, Bessent will resign from his position as Chief Investment Officer at Key Square Group immediately following his confirmation by the Senate as Treasury Secretary and wind down his interest in the company within 90 days. A Bloomberg report also indicates that, like the assets held through his macro hedge fund, Bessent will liquidate his crypto ETF position. However, Matthew Sigel, head of digital research at VanEck, has questioned Bloomberg’s reporting, pointing out that while Bessent footnoted his divestment of other assets, he did not do the same for his IBIT holdings, suggesting he might be keeping it. This view was reinforced by Swan Bitcoin’s Steven Lubka, who asserted in a January 12 post on X that the Treasury Secretary nominee will not be disposing of his Bitcoin position but will continue to hold it. The post Treasury Secretary Nominee Discloses Up to $500K Stake in Bitcoin ETFs appeared first on CryptoPotato . CoinTurk News

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The Top 5 Coins Whales Can’t Stop Buying Ahead of the 2025 Crypto Boom

Major investors are quietly accumulating certain digital assets, anticipating a significant surge in value by 2025. These strategic moves hint at which coins might lead the next market rally. Delving into the patterns of these heavyweights reveals insights into potential breakout stars. This article uncovers five tokens attracting substantial attention and investment from the industry’s biggest players. XYZ: The Next Meme Coin Champion Ready to Dominate 2025 The game is on, and XYZ is here to generate record profits with unstoppable momentum! This sensational all-sports meme token is poised to become the next big thing in 2025, capturing the attention of both crypto enthusiasts and sports fans worldwide. As it charges ahead, XYZ is set to deliver jaw-dropping gains, leaving the likes of BOME and WIF far behind. With eyes on a staggering 7,400% growth, XYZ is ready to claim the meme coin crown in the 2025 crypto bull marathon! Rule the game, cash in as the bets roll in XYZ is the star player in XYZVerse – an award-winning meme coin project that blends the sports thrill and meme culture. This community-centered ecosystem is the perfect playground for crypto degens and sports fans alike. Think back to Polymarket’s $1 billion trading volume during the US elections betting frenzy, and now, picture that on steroids with XYZVerse. With millions of sport bettors getting ready to jump in the action, opportunities for early investors in XYZ are really huge! XYZ is currently undervalued, and with major listings on the way, presale participants stand to secure life-changing gains. >>>2025 Could Be Your Best Year Yet! Make All Your Wishes Come True with the XYZ winning team! NEAR Protocol: Unlocking the Future of Scalable Decentralized Apps NEAR Protocol is making waves by empowering developers to create and launch decentralized applications with ease. Founded by Alex Skidanov and Illia Polosukhin, NEAR has attracted over $20 million from major venture firms. It uses sharding, splitting the network’s workload, to enhance efficiency and scalability. This means it can handle increased demand without slowing down. NEAR operates on a distributed network, similar to centralized data storage systems but decentralized. With features like the Nightshade sharding solution, NEAR aims to revolutionize blockchain scalability. The Rainbow Bridge allows seamless token transfers between NEAR and Ethereum, promoting interoperability. Aurora, a Layer 2 solution, leverages Ethereum’s technologies for better performance and lower fees. In the current market, NEAR stands out as an attractive option for those interested in scalable and developer-friendly platforms. Its focus on efficiency and user experience could position it favorably against other coins, especially as demand for decentralized applications grows. VeChain’s VET: Transforming Global Supply Chains with Blockchain VeChain is a blockchain platform focused on smart contracts and supply chain solutions. It helps businesses track products at every step of shipping. This is vital in industries like food, fashion, and cars, where knowing a product’s origin is key. By giving each item a unique ID and sensor, VeChain lets companies verify authenticity and handle recalls better. Its native token, VET, ranks among the top 40 in market cap, showing wide adoption in real-world applications. VeChain’s potential comes from its practical approach to solving supply chain problems. Founded by Sunny Lu, former CIO at Louis Vuitton China, it moved from being an Ethereum-based token to its own blockchain, VeChainThor, in 2018. It uses two tokens: VET for value transfer and VTHO for transaction fees. By adopting a proof of authority system, it ensures fast and secure transactions. Partnerships with big firms like Walmart China and BMW highlight its real-world use. Though staking rewards are low, VeChain offers passive income options. In the current market, as more industries seek blockchain solutions, VeChain stands out compared to other coins without such practical use. Jupiter’s Rise: The New Star in Solana’s DeFi Universe Jupiter has quickly become a major player in the world of decentralized finance. Built on the Solana blockchain, it stands as the most popular DEX aggregator globally. This means it brings together different resources to make token swaps and futures trading more efficient. Originally, Jupiter focused on helping people swap tokens easily. Now, it has expanded to include perpetual futures like those on GMX and is launching its own decentralized stablecoin. This move helps reduce risks related to custody and regulations. The excitement around Jupiter is growing, especially with the upcoming JUP token airdrop on January 31, 2024. One billion JUP tokens will be shared among nearly 955,000 wallets, rewarding early users and supporters. This, along with its new features and governance through the JUP token, sets Jupiter up for significant growth. In the current market, Jupiter looks attractive because it combines innovative technology with user rewards. Compared to other coins, Jupiter’s focus on efficiency and safety makes it stand out. As the DeFi space evolves, platforms like Jupiter that offer comprehensive solutions are likely to lead the way. Ondo Finance: Bridging Traditional Finance and Blockchain with Regulated, High-Yield Tokenized Assets Ondo Finance is bridging the gap between traditional finance and blockchain technology in a unique way. By turning real-world, income-generating assets into tokens, Ondo makes high-quality financial products accessible to more people. It has two main parts: an asset management arm that creates these tokenized products, and a technology arm that builds decentralized finance (DeFi) protocols. This setup not only boosts the functionality of its offerings but also makes them scalable, bringing sophisticated financial tools to a wider audience. In a cryptocurrency market where trust and security are big concerns, Ondo stands out. It partners with well-known firms like BlackRock and uses Coinbase for secure asset storage. The company is committed to transparency and meets high legal and regulatory standards. One of its notable products, USDY, combines the stability of a stablecoin with added yield, backed by U.S. Treasuries and bank deposits. As the crypto market continues to change, Ondo’s focus on quality and regulated products makes it an appealing option. It offers non-U.S. investors a way to access secure and transparent financial products, setting it apart from many other coins in the market today. Conclusion NEAR, VET, JUP, and ONDO are promising, but XYZVerse (XYZ) pioneers as the first all-sport memecoin, uniting fans with ambitious growth and a community-driven ecosystem. You can find more information about XYZVerse (XYZ) here: Site , Telegram , X Continue Reading: The Top 5 Coins Whales Can’t Stop Buying Ahead of the 2025 Crypto Boom CoinTurk News