Fed Chair Kevin Warsh completes sale of assets under ethics pledge
The Fed chair had already sold most of the relevant investments before taking office in May, as reflected in an earlier certificate of divestiture.
Federal Reserve Chair Kevin Warsh has completed his promised financial divestiture, according to an updated Office of Government Ethics certification.
Warsh signed the document Thursday, confirming that all remaining financial stakes covered by his ethics agreement had been sold.
Warsh previously disclosed extensive crypto and blockchain exposure through venture investments.
According to past filings, his portfolio included Compound, dYdX and Lighter, as well as Solana, Optimism and Blast. His Bitcoin-related holdings included Flashnet and a direct interest in the Lightning Network, while other crypto-related investments included Polymarket, Lemon Cash, Crossmint, Dapper Labs, Tenderly and Vana.
The disclosed positions were generally small, with most individual crypto holdings valued at less than $1,000 under federal disclosure rules.
Macro, rates, and crypto—what moved markets and what matters next.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
However, Warsh also held major private investment positions that could contain additional digital-asset exposure. These included more than $100 million in Juggernaut Fund LP and multiple THSDFS LLC positions worth between $1 million and $5 million.
Warsh and his wife reported combined assets of at least $192 million, making his financial profile unusually large for a Fed chair. Some of the investments covered by his ethics agreement were subject to confidentiality arrangements, leaving their underlying holdings undisclosed.
The completed divestitures mean Warsh has now disposed of the assets he committed to sell under the ethics agreement, removing a major financial-interest issue as he continues leading the Fed.