White House economic adviser Kevin Hassett is seen as a top candidate to replace Jerome Powell as the next Federal Reserve chair in May. Hassett, who oversees Trump’s digital asset working group, has expressed support for cutting rates. Powell’s tenure ends in May, but he remains on the Fed Board until 2028.

Hassett disclosed owning at least $1 million in Coinbase stock and received a salary from the exchange. He previously served on One River Digital Asset Management’s advisory board and as chair of the Council of Economic Advisers. Hassett has close ties to the crypto industry and is a reported candidate for Fed chair.

Fed Governor Chris Waller, who advocated for decentralized finance, and vice supervision chair Michelle Bowman are also potential picks for Fed chair. Trump is pressuring candidates to cut rates, with the market expecting a 25-basis-point cut in December. The chances of a rate cut are around 85%, according to CME’s FedWatch.

Read more at Cointelegraph: Trump Adviser Kevin Hassett a Top Fed Chair Pick: Report.