Pro-Crypto Dove Kevin Hassett Emerges as Top Candidate for Federal Reserve Chair

White House National Economic Council Director Kevin Hassett is the leading candidate to become the next Chair of the Federal Reserve, according to Bloomberg reports. Hassett, who has deep ties to the cryptocurrency industry, played a central role in the White House's digital asset market working group, which released a report this summer outlining regulatory recommendations for cryptocurrencies, including banking, stablecoins, taxes, and illicit finance.

In June, Hassett disclosed owning a stake in Coinbase Global Inc. (COIN) worth at least $1 million and has served on the exchange's advisory board. As an aggressive dove, he has publicly advocated for deeper and faster interest rate cuts, which could make riskier assets like cryptocurrencies more attractive by reducing borrowing costs for leveraged purchases.

Other top candidates include Fed Governor Christopher Waller, known for hawkish views, and former Fed official Kevin Warsh. Polymarket bettors give Hassett a 57% chance of nomination, but the decision is not final. If nominated by President Donald Trump, Hassett would require Senate confirmation, with Trump seeking a trusted ally amid tensions over interest rate policies with current Fed Chair Jerome Powell.

Bitwise Invest senior investment strategist Juan Leon stated that Hassett's appointment would be strongly bullish for crypto, emphasizing his regulatory experience and pro-crypto stance. The Fed Chair serves a four-year term, with Powell's current term ending in February 2026.