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Sunil Kumar
@sunil12349
News Law and Order Treasury Pick Scott Bessent to Divest BlackRock Bitcoin ETF Before Trump's Inauguration Scott Bessent will also resign from Key Square Group, the hedge fund he founded, to avoid conflicts of interest if the Senate confirms him. With just a week to go before President-elect Donald Trump’s inauguration, Scott Bessent, the billionaire hedge fund manager and nominee for Treasury Secretary, is preparing to divest various assets, including his stake in BlackRock’s Bitcoin ETF (IBIT). The divestment follows Federal ethics guidelines, which require nominees to sell specific holdings within 90 days of Senate confirmation to prevent conflicts of interest. BlackRock’s Bitcoin ETF, managing over $50 billion in assets, is the world’s largest spot Bitcoin fund and one of the most closely watched investments in Bessent’s portfolio. The crypto community welcomed Trump’s Treasury Secretary nominee in late November, mainly due to Bessen’t IBIT stake, valued between $250,001 and $500,000.
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