Update (April 14, 7:51 PM UTC): This article was updated to add the date of the nomination hearing.
Kevin Warsh, President Trump’s nominee to replace Jerome Powell as Federal Reserve chair, disclosed millions of dollars in assets in an ethics filing ahead of his confirmation hearing, including investments tied to cryptocurrency and artificial intelligence companies.
In a submission to the U.S. Office of Government Ethics, Warsh reported Excepted Investment Funds (EIFs) connected to Compound, Dapper Labs and Kinetic, and stakes in AI-related companies such as Delphi, Conversion, Factory and Glue. His total reported assets exceed $100 million, though the crypto and AI positions were listed without value ranges.
The filing does not explain why those particular holdings lack valuations. Office of Government Ethics rules do not require reporting for assets valued under $1,000, but it remains unclear whether that threshold or another reporting convention accounts for the missing ranges.
Among Warsh’s largest disclosed interests were more than $50 million in the Juggernaut Fund and over $10 million in consulting income from Duquesne Family Office, the investment firm associated with Stanley Druckenmiller.
Trump first named Warsh as his preferred Fed chair in January and formally sent the nomination to the Senate in March after publicly signaling a desire to replace Powell. Whoever leads the Federal Reserve has major influence over U.S. monetary policy, including decisions on federal interest rates. Powell’s second four-year term as chair expires on May 15.
The Senate Banking Committee announced it will hold Warsh’s nomination hearing on April 21.
Gaps remain in financial-agency appointments
While Warsh moves toward a confirmation hearing, the White House has not announced nominees for key leadership posts at the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). Both agencies are facing significant vacancies at a time when digital-asset oversight is front and center.
The SEC currently has three of its five commissioner seats filled, all by Republicans. The CFTC is led by a single commissioner, Republican Michael Selig, with four seats unfilled. Both agencies are expected to play central roles if the Senate advances a stalled crypto market-structure bill that has been awaiting action since July 2025.
Additional context: a Fed chair confirmation would shape regulatory and monetary policy at a pivotal moment for markets and for ongoing deliberations over digital-asset rules and legislative proposals.