Pete Hegseth's Coinbase Bitcoin generated up to $6,000 in 2025 gains, ethics filing shows
Key Takeaways
- •Hegseth's 2025 financial disclosure reports $2,702 to $6,000 in Bitcoin capital gains from a Coinbase wallet, with the two reported line items placing total holdings between roughly $16,000 and $65,000.
- •The report was signed by Hegseth on May 14, cleared by a Defense Department ethics official in August, and certified by the U.S. Office of Government Ethics on Sept. 18.
- •No Bitcoin transaction appears in Part 7, which itemizes trades above $1,000, meaning any future sale exceeding that threshold would have to be disclosed in later filings.
- •Weeks into his tenure, Hegseth sold shares of Lockheed Martin, Northrop Grumman, Honeywell, KKR and Blackstone on Feb. 7, 2025, and sold shares of Apple, Alphabet, Amazon, Microsoft and Oracle on March 24.
- •The filing also reports more than $1 million in a single U.S. bank account, two mortgages ranging from $1,000,001 to $5,000,000 each, and purchases of SPY and QQQ index funds valued between $100,001 and $250,000 apiece.
Defense Secretary Pete Hegseth's Bitcoin holdings, kept in a Coinbase wallet, generated between $2,702 and $6,000 in capital gains in 2025, according to his annual financial disclosure. The report was certified on Sept. 18 by the U.S. Office of Government Ethics (OGE). Annual disclosures like this one are the main public record of senior officials' personal finances, which is how a Cabinet secretary's crypto position becomes visible at all.
Two Coinbase entries place the stake at $16,000 to $65,000
The form splits the Bitcoin into two line items within a single Coinbase wallet. A stake valued between $15,001 and $50,000 produced gains of $2,501 to $5,000, while a stake valued between $1,001 and $15,000 yielded gains of $201 to $1,000. Together, the two entries put Hegseth's Bitcoin holdings somewhere between about $16,000 and $65,000, with the ranges reflecting the broad brackets used on federal ethics forms.
Part 7 of the form breaks down each trade above $1,000, and no Bitcoin transaction appears there. Sales of $1,000 or less do not require itemization. Any future sale above that threshold would have to be itemized on a disclosure, leaving a clear marker for anyone tracking changes to the Bitcoin position in later filings. Hegseth signed the report on May 14, and an ethics official at the Defense Department cleared it in August, before the OGE's own sign-off.
Lockheed, Northrop, and Honeywell stakes sold weeks into the job
Part 7 consists mostly of stock sales. Weeks into the job, on Feb. 7, 2025, Hegseth sold shares in Lockheed Martin, Northrop Grumman and Honeywell, each valued between $1,001 and $15,000, as well as holdings in KKR and Blackstone valued between $15,001 and $50,000. He sold shares of Apple, Alphabet, Amazon, Microsoft and Oracle on March 24.
His largest individual purchases were in index funds, buying between $100,001 and $250,000 each of SPY and QQQ on Feb. 24.
The filing reports more than $1 million in a single U.S. bank account. He has two mortgages on his house, each ranging from $1,000,001 to $5,000,000. The one taken out in2025 carries an 8.5% rate.
President Trump said he made $1.4 billion from digital assets through 2025, Cryptopolitan reported this week. Trump's own OGE filings in May showed repeated purchases of Coinbase and Strategy shares, Cryptopolitan reported. Both disclosures run through the same OGE bracket system, which documents digital-asset exposure at senior levels of government while keeping exact figures out of public view.
