Federal Reserve Chair nominee Kevin Warsh will appear before the Senate Banking Committee on Tuesday for his confirmation hearing, according to reports from Punchbowl News and Politico.
Financial disclosures released as part of the nomination process reveal that Warsh holds investments in at least 20 different crypto-linked entities. These holdings include the decentralized derivatives exchange dYdX, the decentralized exchange protocol Lighter, and the venture capital firm Polycha.
Senate Banking Committee Chair Tim Scott (R-S.C.) told Fox Business that the confirmation process should conclude within the coming weeks. Scott expects the committee to vote on the nomination before moving it to the Senate floor.
"I believe that we are getting closer and closer to that being a reality in the next few weeks," Scott said, noting his intention to move forward with the vote.
Senate confirmation timeline
The hearing arrives as current Fed Chair Jerome Powell nears the end of his term in May. The transition follows a period of friction between the Trump administration and Powell, including a Department of Justice investigation into Powell regarding allegations of false statements related to a headquarters renovation.
Senator Thom Tillis (R-N.C.) previously stated he would withhold votes on nominees until the DOJ investigation is resolved. However, Scott told Fox Business that he believes Tillis "will be a yes on Kevin Warsh."
Warsh's financial disclosures highlight a significant intersection between traditional finance and the digital asset sector. The Office of Government Ethics report lists a wide array of decentralized finance (DeFi) protocols and crypto-adjacent firms within his personal portfolio.