Trump's Fed Chair Pick Kevin Warsh Set for Senate Confirmation Hearing

Kevin Warsh, President Donald Trump's nominee to lead the Federal Reserve, has reported sizable holdings tied to cryptocurrencies and artificial intelligence ahead of his confirmation process. Reports say the Senate Banking Committee will hold Warsh's confirmation hearing on April 21. Committee Chairman Tim Scott (R-S.C.) indicated a full Senate vote could follow in the coming weeks. Scott said the hearing will focus on the economy, price stability and inflation, and the Federal Reserve's independence, with a subsequent vote to be scheduled later. The timing coincides with the end of current Fed Chair Jerome Powell's term in May. Trump has stepped up criticism of Powell for resisting further interest-rate cuts. During the Trump–Powell dispute, markets viewed the clash as pressure on the Fed's independence, a narrative that helped lift Bitcoin (BTC) as a non-sovereign asset and perceived safe haven. In his disclosures, Warsh reported exposure to roughly 20 crypto-related projects. The list includes the perpetual DEX platform Lighter (LIT), dYdX, Solana (SOL), and Optimism (OP), along with smaller ventures such as Lemon Cash and Ridian. Warsh previously served on the Federal Reserve Board of Governors from 2006 to 2011 and earlier worked as an economic adviser in the George W. Bush administration. Market volatility could rise around the confirmation. BitMine's Tom Lee said investors may "test" a new chair, warning of a potential selloff before a relief rally. The next Fed rate decision, due at the end of April, is expected to be Powell's last as chair. CME FedWatch data showed markets pricing a 99.5% probability of another hawkish hold at the time of writing. While a continued pause may weigh on risk assets near term, analysts expect a Warsh-led Fed to move faster on rate cuts. Lee said that dynamic supports his bullish outlook for the second half of 2026. Final recap: Warsh's confirmation hearing is expected next week, and despite his heavy crypto exposure, Lee expects markets to react sharply as investors assess new Fed leadership.