Kevin Warsh crypto holdings in more than 20 blockchain companies are now public record after Trump’s Fed chair nominee filed a 69-page financial disclosure with the U.S. Office of Government Ethics, with his Senate confirmation hearing set for April 21.
Summary
- Warsh’s disclosure reveals indirect stakes in Solana, dYdX, Optimism, Dapper Labs, Polymarket, and over 20 other crypto-linked entities through venture fund structures.
- His combined assets with wife Jane Lauder, an Estee Lauder heir, total at least $192 million, with two individual positions each exceeding $50 million that he has pledged to sell if confirmed.
- If confirmed, Warsh would be the first Federal Reserve Chair in history with prior exposure to crypto venture capital.
Kevin Warsh crypto holdings now span every major sector of the digital asset industry, from Layer 1 blockchains to DeFi, NFT infrastructure, and prediction markets. Trump nominated Warsh in January 2026 to succeed Jerome Powell, whose term as Fed Chair ends May 15. The financial disclosure now gives the crypto industry a precise picture of just how deep his exposure runs.
His crypto positions, detailed in the OGE Form 278e, are concentrated across several venture fund structures rather than direct token purchases.
Through AVGF I, Warsh holds indirect stakes in Solana, Optimism, and Lightning Network infrastructure. Through DCM Investments 10 LLC, his exposure includes dYdX, Polychain, Compound, and Blast, an Ethereum Layer 2 protocol. A separate AVF fund series captures Dapper Labs, DeSo, Zero Gravity, and Friends With Benefits. Under OGE disclosure rules, positions listed without a dollar value are each worth less than $1,000, meaning these are small venture bets rather than concentrated positions.
The two largest individual holdings are in Juggernaut Fund LP, each exceeding $50 million, with underlying assets shielded by confidentiality agreements. Warsh has pledged to divest both if confirmed. He also earned $10.2 million in consulting fees from Duquesne Family Office, the investment vehicle of Stanley Druckenmiller.
The Regulatory Conflict at the Center of His Hearing
As Fed Chair, Warsh would hold direct influence over stablecoin legislation, bank tokenization approvals, and the regulatory environment that governs the exact protocols sitting in his portfolio. Ethics officials confirmed he will be in compliance with the Ethics in Government Act once required divestitures are completed, but the recusal landscape remains complicated given the breadth of his holdings.
Warsh has previously called bitcoin a “good policeman” for economic policy, and his portfolio reflects a deliberate, if small-scale, bet on the infrastructure layer of the crypto economy.
Senate Timeline and What Comes Next
Senate Banking Committee Chair Tim Scott said the process is “getting closer and closer” and expects a committee vote before moving to the full Senate floor. Republican Sen. Thom Tillis has signaled he may block the nomination until the DOJ’s investigation of Powell concludes, adding procedural risk to an already tight timeline.
With Powell’s term ending May 15, the April 21 hearing carries urgency that few Fed confirmation processes have seen in recent history.
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