Scott Bessent

US Treasury Secretary | Currency Manipulation Specialist
Last Updated: July 6, 2025

Known For

Integral part of the 1992 Black Wednesday trade that broke the British pound

Former CIO at Soros Fund Management; generated over $10B in profits (2011–2015)

Led $1.2B short on the yen during Abenomics (2013), one of the largest FX trades of the decade

Architect of current “sharp dollar devaluation” Treasury policy

“I was part of the team that broke the Bank of England in 1992.”
— Scott Bessent

Connections to Bitcoin & Crypto

Policy Influence: Treasury actions under Bessent’s leadership accelerate Bitcoin adoption via dollar debasement

Asset Allocation: Personally holds $50M+ each in Treasuries, yen, and yuan

Crypto Regulation: Directs frameworks for stablecoin and crypto taxation

FX Diplomacy: Recently met with Japan to discuss dollar-yen policy coordination

Political & Financial Network

Former Soros lieutenant and FX architect

Major Trump campaign fundraiser ($7M+)

Acted as BoJ’s liquidity signaler during Kuroda’s 2013 easing campaign

Maintains open coordination with the Federal Reserve on liquidity and rates

“Exchange rates should be market determined—and at present, the dollar‑yen exchange rate reflects fundamentals.”
— Scott Bessent

Featured in

Bloomberg: Ex-Soros CIO Bessent’s Yen Bet Nets 30% (Dec 2022)

Reuters: Japan Denies Bessent Push for Strong Yen (Apr 2025)

Wall Street Journal: Treasury Secretary’s Billion-Dollar Currency Bets (Nov 2024)

Sources

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