Kevin Warsh, the nominee to lead the Federal Reserve, has filed a 69-page financial disclosure, revealing a complex web of investments, including significant holdings in the cryptocurrency space. The filing, which was reviewed by CoinDesk, shows that Warsh has equity positions in over a dozen blockchain and digital asset companies, spanning DeFi lending, decentralized derivatives, and Bitcoin payments infrastructure. Warsh has pledged to divest the majority of these holdings, which are concentrated in two fund structures: DCM Investments 10 LLC and a series of funds labeled AVF I, AVF II, AVF III, and AVGF I and II. The disclosure also reveals that Warsh has invested in Bitwise Asset Management, the firm behind a spot bitcoin ETF.
The majority of Warsh's crypto positions are small, with most valued at less than $1,000, but he also holds larger stakes in Juggernaut Fund LP and THSDFS LLC, which will require full divestiture. The mandatory divestiture and recusal obligations may constrain Warsh's ability to act on his sympathies towards the crypto industry, at least in the first year. 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.