Billionaire hedge fund manager Scott Bessent, who was chosen by Mr. Trump to be Treasury secretary, has praised cryptocurrencies. "Cryptocurrencies represent freedom, the crypto economy is here to stay, and I think the possibilities are limitless," Mr. Bessent said in July. Scott Bessent owns a stake in BlackRock's bitcoin exchange-traded fund (ETF) worth between $250,000 and $500,000, according to a new financial disclosure filing last month. Scott Bessent wrote in a letter to the US Treasury last week that he would divest his interest in the fund and other investments within 90 days of being nominated. Scott Bessent did not respond to a request for comment. (Jin Ten)