(Reuters) -Billionaire investor John Paulson said on Tuesday he was dropping out of contention for U.S. Treasury secretary in Donald Trump's new cabinet, putting the focus squarely on fellow investor Scott Bessent, the other main candidate in the race.

Some of President-elect Donald Trump’s key advisers are backing Scott Bessent, who runs macro hedge fund Key Square Group, as the best choice to serve as Treasury secretary, people familiar with the matter said.

Scott Bessent is reportedly a heavy favorite in Trump's final list of potential individuals to lead the U.S. Treasury – who is he and will his views have an impact on Bitcoin and the broader crypto industry?

Some of President-elect Donald Trump’s key advisers are backing Scott Bessent, who runs macro hedge fund Key Square Group, as the best choice to serve as Treasury secretary, people familiar with the matter said.

Hedge fund manager and Trump megadonor John Paulson has withdrawn his name from consideration to serve as the president-elect's next Treasury secretary.

The veteran investor says his ‘complex financial obligations’ would prevent him from joining the administration.

Algunos de los principales asesores del presidente electo, Donald Trump, apoyan a Scott Bessent, quien dirige el fondo de cobertura macro Key Square Group, como la mejor opción para ocupar el cargo de secretario del Tesoro,