Kevin Warsh, the nominee for Federal Reserve chair, has filed a 69-page financial disclosure that reveals a complex web of investments, including stakes in over a dozen blockchain and digital asset companies. The filing, which was reviewed by CoinDesk, shows that Warsh holds equity positions in DeFi lending protocols, decentralized derivatives, Layer 1 and Layer 2 networks, prediction markets, and Bitcoin payments infrastructure. Warsh has promised to divest the majority of these holdings, but the revelation has sparked interest and concern about potential conflicts of interest.
The disclosure also reveals that Warsh has earned significant consulting fees from prominent investors, including Stanley Druckenmiller, and has collected speaking fees from firms with significant digital asset trading operations. With a combined net worth of at least $192 million, Warsh would be among the wealthiest Fed chairs in modern history.
The crypto holdings are likely to come up in questioning during his confirmation hearing, which is expected to be held next week. The mandatory divestiture and recusal obligations may constrain Warsh's ability to act on his sympathies for the crypto industry, at least in the first year.