Kevin Warsh's Crypto Holdings Revealed Ahead of Fed Chair Confirmation Hearing

Kevin Warsh, President Trump's nominee for Federal Reserve Chair, has filed his 69-page financial disclosure with the U.S. Office of Government Ethics, paving the way for his confirmation hearing expected next week. The document reveals combined assets with his wife totaling at least $192 million — and a surprisingly deep footprint in the cryptocurrency and blockchain space.

Buried within the disclosure are equity positions in more than 30 crypto-related companies, held through fund vehicles including DCM Investments 10 LLC and a series of funds labeled AVF I through AVF III. These investments span decentralized finance lending protocols like Compound and dYdX, Layer 1 and Layer 2 blockchain networks including Solana and Optimism, Bitcoin payment infrastructure such as the Lightning Network, crypto neobanks, NFT platforms, and Web3 gaming companies. Warsh has agreed to divest the majority of these holdings before taking office.

While most individual positions fall below the $1,000 reporting threshold under OGE rules, larger fund vehicles — including a Juggernaut Fund LP stake exceeding $100 million — will require full divestiture. Ethics officials have confirmed he will be compliant once those sales are completed.

The disclosure raises questions about potential conflicts of interest. Federal ethics rules typically impose a one-year recusal period for matters directly tied to former financial interests. As Fed Chair, Warsh would play a significant role in shaping stablecoin regulation, bank crypto custody policy, tokenized deposit frameworks, and central bank digital currency research — all areas where his portfolio companies operate.

Beyond crypto, Warsh earned consulting income from firms with major digital asset exposure, including Stanley Druckenmiller's Duquesne Family Office. Combined with his wife Jane Lauder's estimated $1.9 billion net worth, Warsh would rank among the wealthiest Fed chairs in U.S. history. His confirmation hearing is expected to draw pointed questions about these financial ties.