Donald Trump has nominated financier Scott Bessent to head the US Treasury Department, a key position that oversees tax policy, public debt, and international finance.

Bessent, previously a supporter of Trump's 2024 campaign, has a background working under George Soros and managing his own fund, Key Square Capital Management.

At 62, Bessent is known for his stance on extending previous tax cuts and utilizing import tariffs as negotiating tools.

Born in South Carolina, he's also invested in local philanthropy.

Bessent's nomination marks a substantive choice in Trump's transition, amidst announcements such as Congresswoman Lori Chavez-DeRemer for Labor Secretary, NFL veteran Scott Turner for HUD, Dr. Janette Nesheiwat for Surgeon General, and Dr. Dave Weldon for the CDC.

Former OMB director Russell Vought is also returning, signaling alignment with Project 2025 policy goals.

If confirmed, Bessent will juggle contentious economic strategies including potential wide-ranging tariffs.

His crypto-friendly outlook contrasts traditional expectations, emphasizing Trump's aim to position America as a crypto industry leader.