The US Senate will soon vote on Donald Trump’s nomination to head the Federal Reserve after President Kevin Warsh, who has previously expressed pro-bitcoin views, was chosen over Fed Chair Jerome Powell.
In an announcement on Wednesday, the White House said Trump had sent Warsh’s nomination to the Senate for a four-year term as chairman of the Federal Reserve Board and a 14-year term as governor. The president took to social media earlier to announce that Warsh would succeed Powell, whose term ends in May but could remain as federal governor until 2028.
Warsh served from 2006 to 2011 under former US presidents George W. Bush and Barack Obama served as federal governors. He went on to become the Shepard Family Distinguished Fellow in Economics at Stanford University’s Hoover Institution.
A potential Fed Chair has made a public statement about accepting Bitcoin (BTC). In a January 2021 interview with CNBC’s Squawk Box, he said that “if Bitcoin had never been gold, it would be growing more now, but I think if you’re under forty, bitcoin is your new gold.” In a 2025 interview with the Hoover Institution, Warsh said that cryptocurrency “can provide market discipline or (…) can tell the world that things need to be fixed.”
“Bitcoin doesn’t make me nervous,” Warsh said. “I can go back to the dinner I had here in 2011 with (…) Marc Andreessen, who showed me a white paper (…) I want to clearly understand how transformative Bitcoin is going to be and this new technology. Bitcoin doesn’t bother me. I see it as an important asset. I see it as an important asset that can tell politicians when they’re doing the right thing and the wrong thing.”
related to: Trump met with Coinbase CEO before slamming banks over crypto account: Report
Powell’s term ends on May 15, while his term as governor ends on January 31, 2028. Although Trump has previously threatened to fire the Fed chairman, he is expected to complete his term.
It was unclear at the time of publication when the Senate would consider Warsh’s nomination, but he could face opposition from many Democratic lawmakers. Minority Leader Chuck Schumer said in January that Republican lawmakers “should not advance Mr. Warsh’s nomination” because of Trump’s attempt to “cannibalize the Federal Reserve to take away its independence.”
“(Warsh) needs to make it clear that he will keep the feds independent and free from Donald Trump’s abuse, or he shouldn’t be confirmed,” Schumer said.
The CFTC does not yet have candidates for leadership
Although Trump officially announced his choice to be the chairman of the Fed, the president did not send any additional nominations to the Senate for the CFTC as of Wednesday.
Michael Selig, who was confirmed as CFTC chairman in December, remains the sole head of the financial regulator, which normally has five commissioners. It is expected that if the market structure bill becomes law through the Senate, the agency will have additional and regulatory oversight over digital assets.
Magazine: Bitcoin may face a forward in any attempt to freeze Satoshi coins
