Who Is Scott Bessent? Pro-Crypto, Openly Gay, Soros Hedge Fund Manager Set To Be Trump’s Secretary Of The Treasury
Incoming President Donald Trump has nominated pro-crypto Key Suqare Group hedge fund manager, Scott Bessent, to serve as the next Secretary of the Treasury – charged with establishing an expected US Bitcoin Reserve.
Bessent is a founder of Key Square Group, a global macro investment firm. Throughout Trump’s most recent campaign, the openly gay hedge fund manager has played a significant role as adviser to Trump.
I don't want to get too far ahead of myself but…
Scott Bessent is the perfect pick by @realdonaldtrump!
He will be the most pro-innovation, pro-crypto Treasury Sec we've ever seen
— Brad Garlinghouse (@bgarlinghouse) November 23, 2024
Hedge Fund Manager Was A Key Advisor To Trump During His Campaign Run
Due to the success of the election campaign and Bessents’ role within it, he is now expected to play a key role in shaping the administration’s economic policies once Trump takes office.
Mr Bessent has been extremely vocal in supporting Trump’s plan to create a strategic Bitcoin Reserve for the US.
Scott Bessent graduated from the prestigious Yale University in 1984. He began his career in finance at Brown Brothers Harriman and later joined Kynikos Associates.
One of Bessent’s career highlights came after joining Soros Fund Management in 1991. He went on to play a key role in the firm’s notable wager against the British pound.
After just shy of a decade with Soros Fund Management, Bessent went on to found a $1 billion hedge fund, which he managed from 2000 until 2005. In 2011, Bessent returned to Soros Fund Management as Chief Investment Officer, a position he held until 2015.
That same year, he established his macro investment firm, Key Square Group. Bessent’s strong ties to George Soros were evidenced when the multi-billionaire invested a $2 billion anchor to Key Square.
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Bessent Has Previously Supported Democratic Candidates But Has Always Been Steadfast In His Pro-Crypto Stance
BREAKING President-elect Donald J. Trump taps Scott Bessent as Secretary of the Treasury.
Bessent is a world-renowned economic strategist and advocate of the America First agenda.
Bessent’s priorities include maintaining the U.S. dollar as the world’s reserve currency and… pic.twitter.com/7ySLP8HnfY
— Hank ™ (@HANKonX) November 23, 2024
Bessent has been extremely outspoken in his pro-crypto stance on cryptocurrencies for some time now. He has regularly called them ‘integral to the future of finance’. He has expressed optimism about the role of digital assets in promoting financial freedom and innovation. His pro-crypto stance aligns with the administration’s interest in integrating digital currencies into the broader economic framework.
Previously, Bessent has supported both Democratic and Republican presidential candidates. Nearly a quarter of a century ago, in 2000, he hosted a fundraiser for Vice President Al Gore’s presidential campaign.
In recent times, he has been one of Trump’s more significant donors while also advising the President-Elect’s campaign. Bessent contributed over $2 million and provided economic policy guidance.
Currently, Bessent’s nomination is still subject to Senate confirmation. However, if confirmed, he will be responsible for implementing the administration’s economic agenda. This will include tax reforms and policies related to digital currencies, of which crypto investors will be eagerly awaiting.
Many on social media are reacting positively to the news that Bessent could potentially become the next Secretary of the Treasury. The praise for Trump’s decision is due to Bessent’s strong financial experience and advocacy for digital assets. Others have been pointing out that Bessent would represent Trump’s first openly gay Cabinet nominee.
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BONUS: Freedum Fighters (DUM) Is Re-Energizing The PolitiFi Space: Has Its Eyes On Overtaking Polymarket – The Leading Prediction Market
New website.
Presale ending.FreeDum Fighters is making big changes and you need to act fast because the presale price will be changing every 24 hours ⏰
Buy $DUM now! pic.twitter.com/QkWXKKnrLb
— FreeDum Fighters (@Freedum_Fighter) November 22, 2024
MAGA-themed cryptocurrency FreeDum Fighters (DUM) has raised over $600,000 in its presale and is well on the way to $1 million. The team announced a website update, progressing the presale beyond its initial US election voting phase.
Now, the price per DUM will increase every 24 hours, meaning that any purchase made here will automatically lock in profit as the presale progresses through multiple price increases.
Alongside the continued growth of FreeDum Fighters in a post-election environment, predictions market Polymarket also shows demand for political-themed options.
The front page of Polymarket is utterly dominated by prediction markets with political themes, and Freedum Fighters is following in a similar suit off the back of a hotly contested Presidential race, which saw the Polymarket prediction blown out of the water by Freedum Fifghter’s more accurate pool prediction.
Investors can currently buy DUM at $0.00009. However, in less than 30 hours, the presale will move to the next stage, increasing the price of DUM.
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