PANews reported on January 12 that according to Bloomberg, Scott Bessent, the U.S. Treasury Secretary chosen by President-elect Donald Trump, will resign from Key Square Group and sell his shares in the partnership to avoid conflicts of interest if approved by the Senate.

Scott Bessent disclosed at least $521 million worth of assets in his personal financial disclosure. Scott Bessent listed nine top-level assets, all tied to his hedge fund. These included two tranches of U.S. Treasury bills, two Invesco funds, and open positions in the U.S. dollar against foreign currencies. He also listed a personal investment of no more than $500,000 in an iShares exchange-traded fund tied to the price of Bitcoin. Like the assets he holds through Key Square Capital, Bessent will divest the cryptocurrency-based ETF. According to his disclosure, Key Square Group will be closed at the end of March.

Some of Bessent's potential conflicts of interest will take longer to resolve. He has invested at least $250,000 in three funds that allow him to withdraw no more than 25% of his holdings each quarter. He has until the end of September to fully exit his holdings, which is much longer than the typical 90-day disclosure window. Bessent said he will recuse himself from specific decisions that will have a predictable impact on the value of stocks. Bessent also listed residential real estate worth at least $5 million in the Bahamas and a collection of art and antiques worth at least $1 million.