Kevin Warsh, the nominee to lead the Federal Reserve, has submitted his financial disclosure, revealing a complex web of investments in the crypto and blockchain space. The filing, which totals 69 pages, outlines combined assets with his wife valued at over $192 million. Notably, Warsh holds equity positions in more than a dozen blockchain and digital asset companies, spanning DeFi lending, decentralized derivatives, and Bitcoin payments infrastructure.
He has committed to divesting the majority of these holdings. The disclosure has sparked interest, given Warsh's future role in overseeing stablecoin regulation, bank crypto custody policy, and potential central bank digital currency decisions. The crypto holdings are primarily concentrated in two fund structures: DCM Investments 10 LLC and a series of funds labeled AVF. Warsh's investments include stakes in DeFi protocols, Ethereum scaling networks, a Bitcoin Lightning startup, and prediction markets.
The exact value of these holdings is unclear, as the individual line items are reported without dollar values, indicating they are worth less than $1,000 each. However, Warsh also holds significant positions 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.