Bitcoin Advocate Kevin Warsh to Lead the Federal Reserve

Kevin Warsh confirmed as new Federal Reserve chair by U.S. Senate.

The U.S. Senate has confirmed Kevin Warsh as the new chair of the Federal Reserve System (Fed). His nomination received 54 votes in favor and 45 against.

Warsh will succeed Jerome Powell, whose term ends on May 15. The new chair will serve a four-year term. The Senate also confirmed him as a member of the Fed’s Board of Governors for 14 years.

Warsh previously served on the regulator’s board from 2006 to 2011. Before that, he held executive positions at Morgan Stanley.

The new Fed chair is known for his favorable stance on digital assets. He has described bitcoin as an “important asset” that aids authorities in assessing the state of the economy.

Financial disclosures revealed that Warsh has invested in crypto projects such as dYdX, Lighter, Polychain Capital, and Dapper Labs. He also owns tokens in Solana and Optimism.

One of the key areas of focus for the new Fed chair will be interest rate policy—a topic that has frequently been a source of contention between Powell and President Donald Trump.

On May 12, the U.S. Bureau of Labor Statistics reported a 3.8% year-over-year increase in the Consumer Price Index (CPI). Weak CPI data triggered a reduction in risk positions in bitcoin derivatives: open interest on major crypto exchanges fell by nearly $1.25 billion.

Back in January, Powell revealed that the U.S. Department of Justice had threatened him with criminal charges over testimony given in Congress in June 2025.