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Fed Chair Nominee Kevin Warsh Owns Crypto
Kevin Warsh, President Trump's nominee to be the next chair of the U.S. Federal Reserve, owns cryptocurrencies.
Financial disclosures that Warsh made with the U.S. Office of Government Ethics ahead of his upcoming confirmation hearing on Capitol Hill show he has crypto-specific holdings.
Warsh holds equity positions in more than a dozen blockchain and digital asset companies spanning DeFi lending, decentralized derivatives, Layer 1 and Layer 2 networks, prediction markets, and Bitcoin (CRYPTO: $BTC) payments.
The crypto holdings disclosed by Warsh are significant because, as Fed Chair, he will oversee stablecoin regulation, bank crypto custody policies, and any future central bank digital currency.
Some of Warsh’s more recognizable crypto and crypto-related investments include Solana (CRYPTO: $SOL), prediction market Polymarket, and non-fungible token (NFT) company Dapper Labs.
Many of Warsh’s investments were made through venture capital vehicles. More specific details of his crypto investments, including the size of his holdings, are not specified in the disclosure.
Warsh has pledged to divest the majority of his cryptocurrency holdings once he is confirmed as the next head of the U.S. central bank.
However, even after selling, Warsh is likely to face questions related to conflicts of interest.
Federal ethics rules require a one-year cooling-off period for matters directly affecting recent financial interests, which could be relevant given the stablecoin legislation working its way through Congress.
Bitcoin is currently trading at $74,280 U.S.
This article has been published in yahoo.com via Yahoo News.
Fed Chair Nominee Kevin Warsh Owns Crypto
Kevin Warsh, President Trump's nominee to be the next chair of the U.S. Federal Reserve, owns cryptocurrencies....
finance.yahoo.com
