Pete Hegseth Nominated as Secretary of Defense

Bitcoin advocate, army veteran, and Fox & Friends Weekend co-host Pete Hegseth has been nominated for Secretary of Defense by President-elect Donald Trump.

Hegseth has publicly expressed support for the crypto industry in recent years, discussing his personal investment in cryptocurrencies and highlighting bitcoin's value in its lack of government control.

Speaking after crypto exchange Coinbase’s IPO in April 2021, Hegseth described it as the "tip of the iceberg" for cryptocurrency. He stated, "Crypto has arrived. Bitcoin is not a person, it's not a company, it's not a place. It's tougher to stop than you would think. And that finite supply in a world of printing money is very powerful," remarked VanEck's head of digital assets research, Matthew Sigel.

“Look at Trump, making bitcoin great again,” Hegseth commented in a Fox Business interview following Trump’s U.S. presidential election victory when bitcoin surged above $80,000 for the first time. “All it took was signaling to that market that they weren’t going to be overregulated. Trump embraced them.”

When asked if he intended to sell any of his bitcoin holdings amid the price spike, Hegseth replied, “I did sell some pretty high … but I’m holding a bunch as well so I feel good.”

President-elect Trump stated, “I am honored to announce that I have nominated Pete Hegseth to serve in my Cabinet as The Secretary of Defense. Pete has spent his entire life as a Warrior for the Troops, and for the Country. Pete is tough, smart and a true believer in America First. With Pete at the helm, America’s enemies are on notice – Our Military will be Great Again, and America will Never Back Down.”

Hegseth is an army veteran of Iraq, Afghanistan, and Guantanamo Bay, earning two Bronze Stars and a Combat Infantryman’s Badge, per his website. He is also the author of the New York Times bestseller “Battle for the American Mind.”

However, most high-level nominees for the U.S. federal government, such as the Secretary of Defense, require Senate confirmation to officially assume their roles.

Criticism of Hegseth’s Nomination by Elizabeth Warren

Not everyone is happy about Hegseth’s nomination. Anti-crypto Senator Elizabeth Warren, who recently won a fourth term after defeating the crypto-friendly Republican candidate John Deaton, was one of the first to criticize his potential appointment.

“A Fox & Friends Weekend co-host is not qualified to be the Secretary of Defense,” Warren stated in a post on X. “I lead the Senate military personnel panel. All three of my brothers served in uniform. I respect every one of our servicemembers. Donald Trump’s pick will make us less safe and must be rejected.” She also criticized Trump’s Department of Government Efficiency plans.

However, others disagreed with Warren’s stance, citing Hegseth’s over 15-year military record as qualifying him for the role.