The person who might run the Federal Reserve owns crypto. Kevin Warsh's financial disclosure - filed ahead of his April 21 confirmation hearing - shows stakes in at least 20 crypto and Web3 projects, including DeFi protocols, Ethereum scaling networks, a Bitcoin Lightning startup, and the prediction market Polymarket.
Through a series of fund vehicles, Warsh has indirect stakes in Solana, Optimism, dYdX, Compound, Blast (an Ethereum Layer 2), and Polychain Capital. Another fund holds positions in Dapper Labs, Friends With Benefits, and Zero Gravity - an AI blockchain platform. He also holds a stake in Flashnet, a Bitcoin payments company that works like a Lightning Network merchant system.
Most are small. Under government ethics rules, positions reported without dollar values are worth less than $1,000 each - making these venture-level bets scattered across fund portfolios. The wildcard: Warsh's stake in Juggernaut Fund LP, worth over $100 million, is protected by privacy agreements. It's unclear how much crypto sits inside it.
Warsh has promised to sell his crypto holdings if confirmed. But the disclosure itself is notable - no previous Fed Chair nominee has had this kind of exposure to the crypto ecosystem. The confirmation hearing on April 21 will likely include pointed questions about these positions.
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