Kevin Warsh, US President Donald Trump’s pick to lead the Federal Reserve to replace Chairman Jerome Powell, has reported millions of dollars in assets ahead of his confirmation hearing, including investments in cryptocurrency and artificial intelligence companies.
In a filing with the US Office of Government Ethics, Warsh reported on excepted investment funds (EIFs) in Compound, Dapper Labs, Kinetic, as well as artificial intelligence companies Delphi, Conversion, Factory, Glue and others ahead of his Senate confirmation hearing.
While the potential Federal Reserve chair’s assets totaled more than $100 million, none of his investments in cryptocurrencies and artificial intelligence included a value range, Reuters reported on Tuesday.
It’s unclear why the value of investments in cryptocurrency and artificial intelligence was not included in the disclosures, but ethics office rules do not require reporting for assets under $1,000. Among the biggest disclosures were more than $50 million in the Juggernaut Fund and more than $10 million in consulting fee income for Duquesne Family Office, Stanley Druckenmiller’s investment firm.
Trump announced Warsh as his pick to head the US central bank in January, but did not formally submit his name to the Senate until March, after numerous threats to remove Powell. Whoever heads the Federal Reserve has significant influence over American financial policy, including federal interest rates.
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Powell’s second four-year term as chairman ends on May 15, but it is unclear when the Senate Banking Committee will consider Warsh’s nomination to replace the Federal Reserve chair. As of Tuesday, the committee had not publicly announced a hearing on the matter, but reports suggested politicians could vote next week.
Trump has yet to announce key nominations for financial agencies
While the Senate Banking Committee could soon consider Warsh’s nomination, Trump has given no signs that he plans to announce additional picks for commissioners on the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), both of which have empty leadership seats at a crucial time for digital asset regulation.
Currently, the SEC has only three of five commissioners in its leadership (all Republicans), while another Republican, Michael Selig, is the only commissioner at the CFTC, where four remaining seats are vacant. Both regulatory agencies are expected to play a major role in regulating digital assets should the Senate pass a crypto market structure bill that has been stalled in the chamber since July 2025.
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