Kevin Warsh, the nominee to lead the Federal Reserve, has submitted his financial disclosure, revealing a complex web of investments in the crypto and blockchain space. The filing, which spans 69 pages, discloses combined assets with his wife of at least $192 million, with a notable portion dedicated to crypto-specific holdings.
Warsh's portfolio includes stakes in DeFi lending protocols, Ethereum scaling networks, a Bitcoin Lightning startup, and prediction markets, all of which he has promised to divest. The disclosure has sparked interest in the crypto industry, as Warsh will oversee stablecoin regulation, bank crypto custody policy, and potential central bank digital currency decisions.
The majority of Warsh's crypto holdings are held through venture fund structures, including DCM Investments 10 LLC and a series of funds labeled AVF I, AVF II, AVF III, and AVGF I and II. His investments span various sectors, including DeFi and trading protocols, Layer 1 and Layer 2 networks, Bitcoin-specific companies, and crypto investment and financial infrastructure. Warsh has also invested in Web3, NFTs, and crypto-adjacent companies.
The disclosure has raised questions about potential conflicts of interest, as Warsh will be required to divest the majority of his crypto holdings and recuse himself from matters directly affecting his former financial interests. The divestiture process is expected to be complex, particularly for illiquid venture stakes.
Warsh's financial profile also reveals significant earnings from consulting fees and speaking engagements, totaling over $10 million in 2025. His wife, Jane Lauder, has an estimated net worth of $1.9 billion, making Warsh one of the wealthiest Fed chairs in modern history. The Senate Banking Committee is expected to hold a confirmation hearing next week, where Warsh's crypto holdings are likely to be a topic of discussion.