The U.S. Senate confirmed Kevin Warsh on Wednesday as the next chair of the Federal Reserve, clearing a pathway for him to take over the central bank’s reins.
Following months of tension marked by President Donald Trump’s pressure campaign against Fed Chair Jerome Powell, lawmakers voted 54-45 in favor of Warsh. A Department of Justice investigation into Powell, recently closed, had become a barrier for some officials in supporting Warsh’s nomination.
Although Warsh has called some crypto projects fraudulent and worthless, he disclosed earlier this year investments in crypto-native projects such as Polymarket and Solana. In an interview published earlier this year, he also said that Bitcoin “does not make me nervous.”
The price of Bitcoin was little changed following Warsh’s confirmation, hovering around $79,500, according to CoinGecko.
Sen. Cynthia Lummis (R-WY) was among pro-crypto politicians that welcomed the Senate’s confirmation of Warsh. She said in an X post that “American businesses and digital asset holders finally have a leader at the Fed who is ready to deliver it.”
Editor’s note: This story is breaking and will be updated with additional details.
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