Scott Bessent plans to divest assets to avoid conflicts as Treasury secretary nominee

Scott Bessent, chosen by President-elect Donald Trump as Treasury secretary, plans to sell off numerous assets to prevent conflicts of interest. His financial disclosures reveal assets exceeding $700 million, including property in the Bahamas and Bitcoin investments. Bessent's ethics agreement was released ahead of his Senate confirmation hearing scheduled for next Thursday. He previously worked for billionaire George Soros and has been a significant donor and adviser to Trump. If confirmed, Bessent will lead Trump's economic policies, focusing on tax cuts, deregulation, and trade negotiations. He is also expected to support the administration's interest in cryptocurrencies.