President Donald Trump on Friday nominated Kevin Warsh to serve as chairman of the Federal Reserve, confirming speculation that intensified after prediction markets shifted in his favor. Trump wrote that Warsh would go down as “one of the GREAT Fed Chairmen, maybe the best,” praising his background in monetary policy, finance, and government service. If confirmed by the Senate, Warsh would replace current Fed Chair Jerome Powell, whose term is set to expire in May.
Warsh’s crypto-friendly remarks have drawn attention from digital asset markets. Speaking at the Hoover Institution’s “Inflation Is a Choice” event, he rejected the idea that bitcoin threatens the Fed’s control over monetary policy, saying “Bitcoin doesn’t trouble me,” and adding that it can inform policymakers without substituting the dollar. He also described bitcoin as a generational alternative to gold, noting that if bitcoin never existed, gold would be rallying even more and that younger investors increasingly view it as “the new gold.”
Warsh has indirect ties to the crypto industry through early investments in Basis and advisory roles with Bitwise. His views remain nuanced, having expressed openness to central bank digital currency frameworks — a position that contrasts with Trump’s firm opposition to a U.S. CBDC. Despite openness to bitcoin, Warsh is widely seen as a monetary policy hawk who emphasized inflation risks during his prior tenure at the Fed.
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