FBI Director Kash Patel, confirmed by the U.S. Senate on Thursday, has extensive financial exposure to Bitcoin.
According to financial disclosure forms seen by TheStreet Crypto, Patel has investments in Bitcoin exchange-traded funds (ETFs) and Bitcoin mining companies, as well as Trump-linked business ventures involved in cryptocurrency.
Patel holds between $50,001 and $100,000 in the Grayscale Bitcoin TR ETF, along with an investment in public Bitcoin mining company Core Scientific, which rebounded last year after a major bankruptcy and expanded into non-crypto fields like artificial intelligence. Patel's stake in Core Scientific runs between $50,001 to $100,000, filing data shows.
"Patel's Bitcoin holdings were not raised as a big concern during his confirmation hearing," Kadan Stadelmann, CTO of Komodo Platform, told TheStreet Crypto.
Nevertheless, Stadelmann highlighted how Patel's business dealings with crypto could be advantageous as the FBI pursues action against North Korean cyber criminals: "Patel's experience with Bitcoin and crypto could give him insights into how best to investigate crypto-related crimes and threats, particularly arising from North Korean hackers who target crypto companies globally, and which the FBI plays a role in investigating and prosecuting alongside other agencies."
Patel is also a director at the Trump Media and Technology Group, which has reportedly given Patel $800,000 in stock. The company recently launched TruthFi , a fintech platform offering Bitcoin and other cryptocurrency-linked financial products. It also recently announced plans to launch a Bitcoin Plus ETF .
Patel has said he will terminate his position at Trump Media and Technology when he assumes the FBI director role. "Thereafter, there will be no amounts due for past or future services," he said.
Patel also received more than $5,000 from the Embassy of Qatar as a consultant, and previously consulted for Elite Depot, the parent company of fast fashion Chinese retailer Shein. The latter consultation netted him between $1 million and $5 million in stock, which he would not be required to divest from as FBI director.
Additionally, Patel also invests in Palantir, Facebook's parent company Meta, and JPMorgan Chase, among other companies.
