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The nominee for the position of Chair of the Federal Reserve System in the United States, Kevin Warsh, who is also a freelance advisor to former President Donald Trump, has disclosed details regarding his financial assets. According to a report submitted during the confirmation process, the total value of the financier’s portfolio exceeds $100 million.
Warsh holds stakes in the blockchain platform Polymarket and blockchain infrastructure firms Tenderly, Lemon Cash, and Stashfin. In total, the Fed chair candidate has invested $500,000 in cryptocurrency projects, many of which are relatively unknown, as noted by Reuters.
The majority of Warsh’s wealth is concentrated in investment funds. A portion of the assets is allocated across dozens of small technology company shares. Warsh owns a stake in the aerospace company SpaceX and has made minor investments in startups focused on artificial intelligence. Additionally, Warsh supports biotechnology projects, including research on vaccine development and contraception.
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In March, the White House officially submitted Warsh’s nomination to the U.S. Senate for approval as the head of the Fed. If confirmed, he will succeed Jerome Powell, whose term ends in May. Warsh served on the Board of Governors of the Fed from 2006 to 2011.
In a 2018 article for The Wall Street Journal, Warsh stated that Bitcoin is not money, and its volatility prevents it from being considered a reliable unit of account. In 2021, Warsh referred to Bitcoin as “the new gold for those under 40,” while in 2022, he characterized cryptocurrencies not as money but as “software,” urging caution regarding certain digital assets, as many of them are fraudulent.
Powell is currently serving his second term. If the Senate does not approve the new nominee proposed by Trump, the current head of the American central bank will continue to serve until a new chair is appointed. Furthermore, Powell has the right to remain on the Board of Governors of the Fed until 2028.
