Incoming Fed Chair Holds Crypto Assets, Pledges to Sell

Kevin Warsh, the nominee for the Federal Reserve chair, has filed his financial disclosure, showing a complex web of investments in the crypto space. His portfolio includes stakes in DeFi lending, decentralized derivatives, and Bitcoin payments infrastructure, among others. Warsh has pledged to sell most of these holdings to avoid conflicts of interest. The disclosure reveals that Warsh's crypto holdings are valued at less than $1,000 each, but he also holds larger, opaque positions in funds that will require full divestiture. The mandatory sale of these assets and the subsequent recusal obligations may limit Warsh's ability to make decisions on crypto-related matters during his tenure. 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.