Update (April 14, 7:51 PM UTC): This article has been updated with the date of the nomination hearing.
Kevin Warsh, US President Donald Trump’s pick to lead the Federal Reserve to replace Chair Jerome Powell, reported millions of dollars in assets ahead of his confirmation hearing, including investments tied to cryptocurrency and artificial intelligence companies.
In a filing with the US Office of Government Ethics, Warsh disclosed Excepted Investment Funds (EIFs) connected to Compound, Dapper Labs and Kinetic, as well as stakes in AI firms including Delphi, Conversion, Factory and Glue. Warsh’s total assets exceeded $100 million, but the crypto and AI investments were listed without value ranges.
It is unclear why those holdings lacked valuation; Office of Government Ethics rules do not require reporting of assets valued under $1,000. Among Warsh’s largest reported interests were more than $50 million in the Juggernaut Fund and over $10 million in consulting income from Duquesne Family Office, the investment firm of Stanley Druckenmiller.
Trump announced Warsh as his preferred Fed chair in January and formally advanced his nomination to the Senate in March after several public threats to replace Powell. Whoever leads the Fed exerts major influence over U.S. financial policy, including decisions on federal interest rates.
Powell’s second four-year term as chair ends on May 15. The Senate Banking Committee announced it will hold a nomination hearing for Warsh on April 21.
Trump still hasn’t announced key nominations for financial agencies
While the Senate Banking Committee moves toward Warsh’s confirmation hearing, Trump has not named additional candidates for leadership roles at the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Both agencies have important vacancies at a critical moment for digital-asset oversight.
The SEC presently has three of five commissioners, all Republicans, and the CFTC is led by a single commissioner, Republican Michael Selig, with four slots unfilled. Both agencies are expected to play pivotal roles if the Senate advances a stalled crypto market-structure bill that has been awaiting action since July 2025.
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