Kevin Warsh, the nominee to lead the Federal Reserve, has filed a 69-page financial disclosure form, revealing a vast portfolio with combined assets worth at least $192 million. Notably, the filing shows Warsh's investments in over a dozen blockchain and digital asset companies, spanning DeFi lending, decentralized derivatives, and Bitcoin payments infrastructure. Warsh has promised to divest most of these holdings.
The disclosure form, reviewed by CoinDesk, reveals that Warsh's crypto and blockchain-related holdings 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. Warsh's crypto portfolio includes stakes in DeFi protocols, Ethereum scaling networks, a Bitcoin Lightning startup, and prediction markets. Most of these positions are small venture bets, but some are part of larger, opaque funds that will require full divestiture. The mandatory divestiture and recusal obligations may limit 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.