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.

Donald Trump has nominated 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. A strong supporter of Trump’s plan to create a strategic Bitcoin Reserve for the US, Bessent is expected to play a key role in shaping the administration’s economic policies once Trump takes office.

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

Bessent’s career spans over three decades in the financial industry, beginning at Brown Brothers Harriman before joining Kynikos Associates. He went on to join Soros Fund Management in 1991, where he played a key role in the firm’s wager against the British pound.

After Soros Fund Management, Bessent founded a $1 billion hedge fund, which he managed from 2000 until 2005. In 2011, he returned to Soros Fund Management as Chief Investment Officer, a position he held until 2015.

That same year, Bessent established his macro investment firm, Key Square Group. Notably, multi-billionaire George Soros himself evidenced his strong ties to Bessent when he 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’.

Over the years, Bessent has expressed optimism about the role of digital assets in promoting financial freedom and innovation. Notably, 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 notably 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 on economic policy to the tune of over $2 million.

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

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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.

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Interestingly, FreeDum Fighters is now pivoting toward a new