Defense Secretary Pete Hegseth's 2025 annual financial disclosure showed Bitcoin holdings of $16,000 to $65,000 in a single Coinbase wallet, generating between $2,702 and $6,000 in capital gains. The filing was signed on May 14, cleared by a Defense Department ethics official in August and certified by the Office of Government Ethics on Sept. 18. It listed no Bitcoin transaction above $1,000, the threshold for itemization. Hegseth sold holdings in defense contractors, investment firms and major technology companies after taking office, while his largest purchases were $100,001 to $250,000 each in the SPY and QQQ index funds. The filing also showed more than $1 million in one U.S. bank account, two mortgages valued at $1,000,001 to $5 million each, and retirement investments held with his wife Jennifer worth roughly $2.05 million to $4.35 million. The disclosure recorded a 2025 mortgage carrying an 8.5% interest rate. President Trump said he made $1.4 billion from digital assets through 2025, while earlier disclosures and reporting cited in the existing record described substantial Trump family crypto holdings and income.