Kevin Warsh, nominated to lead the Federal Reserve, has filed a 69-page financial disclosure, unveiling a portfolio that includes stakes in over a dozen blockchain and digital asset companies. His holdings span DeFi lending, decentralized derivatives, Layer 1 and Layer 2 networks, prediction markets, and Bitcoin payments infrastructure.
Warsh has pledged to sell most of these holdings, sparking questions about potential conflicts of interest and the impact on his future decisions as Fed chair. The disclosure reveals combined assets with his wife of at least $192 million, with crypto-specific holdings concentrated in two fund structures: DCM Investments 10 LLC and a series of funds labeled AVF. Warsh's crypto positions are mostly small venture bets, but he also holds larger stakes in opaque funds, which will require full divestiture.
The mandatory divestiture and recusal obligations may constrain his ability to act on matters related to his former investments, at least in the first year.