• Front-runner: White House economic adviser Kevin Hassett is reportedly leading Trump’s shortlist to replace Jerome Powell as Federal Reserve chair in May.
• Crypto ties: Hassett owns over $1 million in Coinbase stock, advised the exchange, and previously served on One River Digital Asset Management’s advisory board.
• Policy stance: Supports Trump’s push for rate cuts; oversees the White House digital asset working group, which released a crypto policy report in July.
• Market impact: Fed rate cut expectations rise, with CME FedWatch showing ~85% probability of a 25-basis-point cut in December.
• Other contenders: Fed Governor Chris Waller and Vice Chair Michelle Bowman, both with crypto awareness, remain possibilities.

Hassett’s potential appointment signals a strong pro-crypto tilt for the Fed, likely boosting market expectations for rate cuts and institutional adoption of digital assets.