Warsh Reports $100M in Assets, Includes Crypto and AI

Kevin Warsh, President Trump’s nominee to lead the Federal Reserve, reported more than $100 million in assets in a filing with the U.S. Office of Government Ethics submitted before his Senate confirmation hearing.

The disclosure lists Excepted Investment Funds tied to crypto platforms Compound, Dapper Labs and Kinetic, and investments in artificial intelligence companies including Delphi, Conversion, Factory and Glue. The filing did not provide dollar ranges for those crypto and AI entries.

The ethics office does not require reporting for assets valued under $1,000, and the filing did not explain the missing ranges. Among the largest items, Warsh reported more than $50 million in the Juggernaut Fund and more than $10 million in consulting income from Duquesne Family Office, the investment firm associated with Stanley Druckenmiller.

Trump announced Warsh’s nomination in January and formally transmitted it to the Senate in March. Jerome Powell’s current term as Fed chair ends on May 15.

The Senate Banking Committee had not publicly scheduled a confirmation hearing as of the filing. Some reports suggested the committee could act on a near-term timeline.

The filing details private fund holdings, consulting income and technology investments that senators can review to identify potential conflicts of interest and decide whether divestment or recusals would be necessary if Warsh is confirmed.

Other financial regulators have vacant seats. The Securities and Exchange Commission is operating with three of five commissioners, all Republicans, and the Commodity Futures Trading Commission lists one commissioner, Michael Selig. Lawmakers continue negotiations on a crypto market structure bill that has been stalled since July 2025; both agencies would be involved in any regulatory framework for digital assets.