Kevin Warsh, the nominee to lead the Federal Reserve, has filed a 69-page financial disclosure form, revealing a vast portfolio worth at least $192 million, with significant investments in the crypto space. His holdings include equity positions in over a dozen blockchain and digital asset companies, spanning DeFi lending, decentralized derivatives, and Bitcoin payments infrastructure. Warsh has committed to divesting the majority of these holdings. The disclosure provides insight into the crypto-specific investments of the man who will oversee stablecoin regulation, bank crypto custody policy, and potential central bank digital currency decisions.
Warsh's crypto and blockchain-related holdings are concentrated in two fund structures, with investments in DeFi and trading protocols, Layer 1 and Layer 2 networks, Bitcoin-specific companies, and crypto investment and financial infrastructure. The exact value of these holdings is unclear, as most are reported without dollar values, indicating they are worth less than $1,000.
However, Warsh holds over $100 million in the Juggernaut Fund LP, whose underlying assets are not publicly disclosed. The mandatory divestiture of these holdings may impact Warsh's ability to act on crypto-related matters during his tenure as Fed chair.