Key Takeaways
- • Kevin Warsh, Trump's nominee for Federal Reserve Chair, filed a 69-page financial disclosure on April 14, 2026, revealing over $100 million in assets concentrated across crypto, AI, and private equity holdings.
- • Warsh's largest disclosed positions include two investments valued at over $50 million each in Juggernaut Fund LP and $10.2 million in consulting fees from billionaire Stanley Druckenmiller's investment office, with approximately two dozen additional positions held through THSDFS LLC valued up to $5 million each under confidentiality agreements.
- • Named crypto holdings include Blast (an Ethereum layer-two network) and prior investments in Bitwise Asset Management, which manages a spot Bitcoin ETF; dozens of additional unlisted assets appear concentrated in AI and crypto sectors.
- • Warsh has committed to divest his Juggernaut Fund and THSDFS positions if confirmed, with OGE analyst Heather Jones approving the filing pending completion of those divestitures.
- • The Senate Banking Committee has not yet formally scheduled Warsh's confirmation hearing, though it could occur as early as the following week; however, Senator Thom Tillis (R-NC) has pledged to block a final vote until a federal criminal probe involving current Fed Chair Jerome Powell is fully resolved.
Summary
Kevin Warsh's financial disclosure filed with the US Office of Government Ethics on April 14 represents the final major bureaucratic requirement before the Senate Banking Committee can advance his nomination as Federal Reserve Chair. The 69-page filing reveals a portfolio exceeding $100 million, with substantial exposure to alternative assets and emerging technology sectors.
The disclosure identifies two cornerstone investments valued at over $50 million each: the Juggernaut Fund LP and $10.2 million in consulting fees from the investment office of billionaire investor Stanley Druckenmiller. Warsh also holds approximately two dozen positions through THSDFS LLC, with individual holdings reaching up to $5 million, though specific details remain confidential under nondisclosure agreements. Dozens of additional assets were listed without specific valuations but appear concentrated in artificial intelligence and cryptocurrency sectors, according to Reuters reporting.
Warsh's crypto exposure is documented through named holdings in Blast, an Ethereum layer-two network, and prior investments in Bitwise Asset Management, the firm managing a spot Bitcoin ETF approved in recent years. To address potential conflicts of interest, Warsh has pledged to divest his Juggernaut Fund and THSDFS positions upon confirmation. OGE analyst Heather Jones approved the filing with the condition that these divestitures be completed, indicating compliance once those transactions close.
The path to confirmation faces procedural delays and political obstacles. The Senate Banking Committee initially targeted April 16 for scheduling Warsh's hearing but postponed due to incomplete disclosures. Confirmation timing has been further complicated by Senator Thom Tillis (R-NC), who stated he will block a final confirmation vote until a federal criminal investigation involving current Fed Chair Jerome Powell is fully and transparently resolved. Powell's term expires May 15, creating a compressed timeline for the nomination process.
The disclosure identifies two cornerstone investments valued at over $50 million each: the Juggernaut Fund LP and $10.2 million in consulting fees from the investment office of billionaire investor Stanley Druckenmiller. Warsh also holds approximately two dozen positions through THSDFS LLC, with individual holdings reaching up to $5 million, though specific details remain confidential under nondisclosure agreements. Dozens of additional assets were listed without specific valuations but appear concentrated in artificial intelligence and cryptocurrency sectors, according to Reuters reporting.
Warsh's crypto exposure is documented through named holdings in Blast, an Ethereum layer-two network, and prior investments in Bitwise Asset Management, the firm managing a spot Bitcoin ETF approved in recent years. To address potential conflicts of interest, Warsh has pledged to divest his Juggernaut Fund and THSDFS positions upon confirmation. OGE analyst Heather Jones approved the filing with the condition that these divestitures be completed, indicating compliance once those transactions close.
The path to confirmation faces procedural delays and political obstacles. The Senate Banking Committee initially targeted April 16 for scheduling Warsh's hearing but postponed due to incomplete disclosures. Confirmation timing has been further complicated by Senator Thom Tillis (R-NC), who stated he will block a final confirmation vote until a federal criminal investigation involving current Fed Chair Jerome Powell is fully and transparently resolved. Powell's term expires May 15, creating a compressed timeline for the nomination process.
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