I just read about the disclosure of Kevin Warsh’s assets ahead of the Senate hearings—and it’s definitely worth paying attention to. The guy filed a 69-page financial disclosure with the U.S. Office of Government Ethics, and it turned up something interesting for a potential Fed chair.

The point is that Kevin Warsh owns a fairly broad portfolio of cryptocurrency assets. His net worth is estimated between $131 million and $209 million. But the main thing isn’t the size—it’s the composition. The portfolio is split between two major structures: two positions in Juggernaut Fund LP, each over $50 million, plus about 24 separate holdings through THSDFS LLC, each up to $5 million.

What’s inside? Ethereum Layer-2 Blast, which generates its own income (4% on ETH and 5% on stablecoins). A position at Bitwise Asset Management is a spot Bitcoin ETF—a classic tool for institutional access. Bitcoin Lightning Flashnet for payment infrastructure. Polymarket for prediction markets. Plus positions in AI startups like Recraft, Volt, and SpaceX. Kevin Warsh looks more like a tech investor tied to traditional finance than a typical central banker.

The position in Blast is especially interesting. It’s not just a passive spot exposure—it’s active participation in DeFi mechanisms that generate real income. For the U.S. financial elite, this kind of openness is rarely seen. The very fact that a candidate for Fed chair holds such positions suggests how the status of cryptocurrencies has changed. Now, they’re considered a legitimate asset class even at the level of serious financial players.

There are also obligations. Warsh will have to fully liquidate all of these positions within six months after Senate approval. This requirement was introduced after the 2020 scandals, when the presidents of the Boston and Dallas Fed made stock trades during the pandemic. In 2022, Powell introduced stricter rules, including a direct ban on cryptocurrencies for senior officials.

The timeline is tight. Powell’s term ends on May 15, and the hearings have been moved to the week of April 21. A single “no” vote could delay confirmation, but observers still expect a narrow approval before the current chair’s term expires. It will be interesting to see how this plays out.