Scott Bessent, tapped by Donald Trump to be treasury secretary, faced sharp questions from Democrats and Republicans on tax policy, tariffs, China, Russia sanctions and the IRS.

Financial disclosure forms show hundreds of millions of assets including property in the Bahamas and investments in Bitcoin and bets against China’s currency.

President-elect Donald Trump’s pick for Treasury secretary testifies Thursday before the Senate Banking Committee.

Trump Treasury Secretary nominee Scott Bessent faces a Senate panel on Thursday and can expect grilling from a Democratic watchdog of Wall Street.

Scott Bessent, Donald Trump's nominee for Treasury Secretary, said during a confirmation hearing Thursday that he is "perplexed" that the Biden administration did not impose more sanctions and tariffs on Russia's economy.

The new Secretary of Treasury has a strong fundamental view of markets and leans pro Bitcoin and cryptocurrency.

"Do you think that when so few people have so much wealth and so much economic and political power, that is an oligarchic form of society?"

In a new memo obtained by NBC News, Senate Finance Democratic tax staff found that Scott Bessent avoided over $950,000 of self-employment taxes.

The United States should keep oversight of potential problems in the U.S. bond market, President-elect Donald Trump's Treasury Secretary pick Scott Bessent told Congress on Thursday, referring to Wall Street billionaire Howard Lutnick's plan to clear Treasury futures through a UK firm.

Scott Bessent, a South Carolina billionaire hedge fund manager, wasted no time getting to the crux of his confirmation hearing: the expiring Trump tax cuts. “This is the single most important economic issue of the day,” Bessent told the committee.

Bessent said he believed Trump's presidency would help "unleash a new economic golden age," which could include more jobs and wealth for Americans.