The First Fed Chair with Crypto Holdings? Kevin Warsh Discloses at Least 20 Crypto Investments Including Solana and dYdX

marsbitPubblicato 2026-04-15Pubblicato ultima volta 2026-04-15

Introduzione

Kevin Warsh, a former Federal Reserve governor and nominee for Fed Chair, has disclosed at least 20 cryptocurrency-related investments in a 69-page financial filing submitted to the U.S. Office of Government Ethics. The disclosure, required ahead of his Senate confirmation hearing, reveals indirect holdings in major crypto projects including Solana, dYdX, Optimism, Polychain Capital, Dapper Labs, and Lightning Network, among others. These investments are held through various venture funds and special purpose vehicles. Warsh and his wife, Jane Lauder, have a combined net worth of at least $192 million. While the crypto holdings are described as small, risk-focused positions, they span multiple sectors: L1 and L2 blockchains, DeFi protocols, NFT platforms, payment systems, and AI-integrated chains. Warsh has publicly endorsed Bitcoin in the past, calling it “a very good police for policy” and “the new gold for those under 40.” If confirmed, he would become the first Fed Chair with direct exposure to crypto venture investments. His confirmation hearing is scheduled for April 21, though political opposition remains a potential hurdle.

Author: Claude, Deep Tide TechFlow

Deep Tide Guide: Kevin Warsh, nominated by Trump for Fed Chair, submitted a 69-page financial disclosure revealing combined assets with his wife of at least $192 million, including indirect investments in at least 20 crypto-related entities such as Solana, dYdX, Polychain Capital, Optimism, and Dapper Labs. If confirmed, he would become the first Fed Chair with exposure to crypto venture capital. The confirmation hearing is scheduled for April 21st, but Republican Senator Tillis still threatens to vote no due to the Powell investigation stalemate.

Warsh's crypto holdings list emerged through a 69-page government ethics document.

Fed Chair nominee Kevin Warsh submitted his financial disclosure to the U.S. Office of Government Ethics (OGE) on April 14th, the final procedural step before the Senate confirmation hearing. The document shows that Warsh and his wife Jane Lauder have combined assets of approximately $192 million, potentially more. But what truly captured the crypto industry's attention were the over twenty crypto and Web3-related holdings buried deep within the file.

Warsh had previously stated clearly in a public interview at the Hoover Institution: Bitcoin doesn't make him uncomfortable; he considers it an important asset that can help policymakers judge whether their decisions are correct. Now, the disclosure proves he's gone beyond mere words—his money is indeed on this track.

At Least 20 Crypto Entities: Nearly Full Coverage from L1 Public Chains to DeFi Protocols

Warsh's crypto exposure is distributed across multiple venture capital fund structures. Through the AVGF I fund, he indirectly holds interests in Solana, Optimism, and the Lightning Network; through DCM Investments 10 LLC, he holds stakes in dYdX and Polychain Capital, with the same vehicle also including dozens of fintech and Web3 projects like Compound, Lighter, Lemon Cash, and Blast (an Ethereum L2 protocol).

Under the AVF series of funds, crypto-related holdings also appear including Dapper Labs, Deso, Eulith, Onjuno, Ridian, Friends With Benefits, and Zero Gravity (an L2 AI blockchain platform). Warsh also directly holds shares worth $1,001 to $15,000 in Web3 company Metatheory Inc. through Founder Bets Master SPV LLC.

Furthermore, according to Bitcoin Magazine, Warsh also holds equity in Bitcoin payments startup Flashnet, a company positioned as a Bitcoin merchant payment system similar to the Lightning Network. Warsh had previously invested in crypto index management company Bitwise and algorithmic stablecoin project Basis, although these investments did not appear in this disclosure.

In terms of coverage, this holdings list touches nearly every major sector of the crypto industry: L1 public chains (Solana), L2 scaling (Optimism, Blast), DeFi protocols (dYdX, Compound), NFT infrastructure (Dapper Labs), prediction markets (Polymarket), Bitcoin payments (Flashnet, Lightning Network), and even social tokens (Friends With Benefits) and AI blockchain (Zero Gravity).

However, according to OGE rules, holdings without specified amounts typically mean the individual item is valued below $1,000, indicating these crypto positions are mostly small risk bets rather than concentrated positions.

Full Picture of $192 Million in Assets: Druckenmiller Advisory Fees, Juggernaut Fund & Opaque Holdings

Crypto holdings are just one corner of Warsh's vast asset portfolio.

The two largest investments in the file are two positions in the Juggernaut Fund LP, each marked as "over $50 million," but the underlying assets are not disclosed due to confidentiality agreements. Warsh has committed to selling all of these if confirmed. Additionally, about twenty-plus THSDFS LLC series holdings, with individual amounts up to $5 million, also have undisclosed underlying assets due to confidentiality clauses.

Regarding income, Warsh received a $10.2 million advisory fee from the Duquesne Family Office of Wall Street legend Stanley Druckenmiller. He also received $1.55 million from GoldenTree Asset Management, $750,000 from Cerberus Capital Management in advisory fees, and a $750,000 speaking fee from Brevan Howard—all institutions with digital asset trading businesses.

OGE certifying official Heather Jones noted in the review opinion that once Warsh completes the promised asset sales, he will meet the compliance requirements of the Ethics in Government Act.

Warsh's wife, Jane Lauder, is the granddaughter of Estée Lauder's founder, with Forbes estimating her personal net worth at approximately $1.9 billion.

Once Called Bitcoin a "Good Police for Policy," Now His Holdings Confirm His Judgment

Warsh's attitude toward Bitcoin is unique among past and current senior Fed officials.

As early as 2011, Warsh saw the Bitcoin whitepaper from Marc Andreessen at a dinner. In 2018, he wrote in The Wall Street Journal that Bitcoin could become a "sustainable store of value" similar to gold. In 2021, he stated on CNBC that for people under 40, Bitcoin is their new gold.

In 2025, in a Hoover Institution interview, he gave his most complete statement to date: Bitcoin is not a substitute for the dollar, but it can be a very good police for policy. He also characterized software development in the crypto industry as part of U.S. economic competitiveness.

For the crypto industry, Warsh's disclosure is a double-edged signal. On one hand, a Fed Chair with firsthand venture capital exposure to DeFi and blockchain infrastructure may understand the nuances of this technology better than his predecessors; on the other hand, forced sales and recusal obligations may limit his ability to translate these sympathetic attitudes into concrete actions early in his tenure.

Domande pertinenti

QWho is Kevin Warsh and what significant financial disclosure did he make?

AKevin Warsh is a nominee for the position of Federal Reserve Chair. He submitted a 69-page financial disclosure to the U.S. Office of Government Ethics, revealing a combined net worth of at least $192 million with his wife and indirect investments in at least 20 crypto-related entities.

QWhat are some of the major crypto projects and companies that Kevin Warsh has indirect investments in?

AHis disclosed crypto investments include Solana, dYdX, Polychain Capital, Optimism, Dapper Labs, Compound, Lightning Network, Blast, and Flashnet, covering sectors like L1 blockchains, L2 scaling, DeFi, NFTs, and Bitcoin payments.

QWhat is the significance of Kevin Warsh potentially becoming the Federal Reserve Chair with these crypto holdings?

AIf confirmed, Kevin Warsh would be the first Federal Reserve Chair to have a venture capital exposure to the cryptocurrency market, indicating a potential for a more nuanced understanding of the technology within the highest levels of U.S. monetary policy.

QWhat was Kevin Warsh's previous public stance on Bitcoin and cryptocurrency?

AWarsh has publicly stated that Bitcoin does not make him uneasy, views it as an important asset that can act as a 'good police' for policy makers to judge their decisions, and has referred to it as 'new gold' for people under 40.

QWhat are the two largest investments in Warsh's portfolio and what is the plan for them if he is confirmed?

AThe two largest investments are two positions in the Juggernaut Fund LP, each valued at 'over $50 million'. Warsh has committed to divest these holdings, along with other specified assets, if his nomination is confirmed to comply with government ethics rules.

Letture associate

The Richest Fed Chair in 112 Years Is Here: Kevin Warsh Is Rewriting the Rules

Kevin Warsh, with a personal fortune exceeding $130 million, became the 112nd and wealthiest Chair of the U.S. Federal Reserve on May 22nd. A former Wall Street investment banker and key figure during the 2008 financial crisis, Warsh lacks a traditional academic background for a central banker but brings deep market experience. He proposes an unconventional policy approach of simultaneously reducing the Fed's balance sheet ("quantitative tightening") while cutting interest rates, arguing that a smaller balance sheet would allow for more effective rate policy. His ascent marks a potential regime change at the Fed. Warsh aims to reform the institution's decision-making processes, tighten communication discipline among officials, and reduce reliance on forward guidance like the "dot plot." This shift responds to the Fed's current dilemma: fiscal policy is expanding the government's balance sheet through deficits, while monetary policy's ability to shrink its own $6.7 trillion balance sheet is severely constrained, creating pressure on long-term interest rates. Analysts expect Warsh's tenure to sustain high volatility in the U.S. Treasury market due to persistent supply pressures. Furthermore, his leadership coincides with a gradual, structural erosion of dollar dominance, evidenced by its declining share in global reserves and cracks in the petrodollar system, with increased use of alternatives like the Chinese yuan in oil trade. For investors, this environment underscores the importance of portfolio diversification, including assets like gold and Chinese sovereign bonds, amid a fluctuating dollar credit anchor.

链捕手4 min fa

The Richest Fed Chair in 112 Years Is Here: Kevin Warsh Is Rewriting the Rules

链捕手4 min fa

τ Scaling: Huawei's New Growth Engine Designed for the Post-Moore Era

**Tau Scaling: Huawei's New Growth Engine for the Post-Moore Era** For 60 years, progress in semiconductors was driven by Moore's Law – making transistors smaller, denser, and cheaper. This path has now stalled due to plummeting returns below 7nm, astronomical lithography costs, and rising per-transistor expenses. After six years and testing 381 production chips, Huawei’s semiconductor team proposes a fundamental shift: **stop competing on size, start competing on time**. This is the core of their "τ (Tau) Scaling" theory. It treats *time* as the key optimization metric, compressing characteristic delays (τ) across all levels – from transistor switching (picoseconds) to data center tasks (seconds), spanning 12 orders of magnitude. **What is τ Scaling?** It holistically minimizes delay/time constants (τ) across four layers: transistors (switching speed), circuits (signal delay), chips (compute/memory access), and systems (end-to-end communication). The goal is to align optimization from process and circuit design to architecture and systems using this unified metric. **Mobile Application: LogicFolding** Without advancing the process node, this technique vertically stacks chips using ultra-precision hybrid bonding, distributing critical paths across layers ("stacking floors"). Results include a 55% transistor density increase, 41% better energy efficiency, over 40% higher SRAM frequency, and a roadmap targeting 4GHz by 2029. **AI Data Center Application: Full-Link Latency Compression** With 80% of AI cluster energy and 70% cost spent on data movement, the focus is slashing communication time. Key innovations include: 1. **Unified Bus:** Cuts multi-layer protocols, reducing remote access latency from microseconds to ~100 nanoseconds – 500x faster. 2. **Hi-ONE Optical Interconnect:** Replaces copper with fiber, enabling 8Tb/s per module and scaling distances from 1m to 100m for 10,000-chip clusters. 3. **3D Folding:** Solves the "interface bottleneck" of 2.5D packaging by vertically integrating memory, power, and optical I/O alongside compute, predicting over 100x integration density gain by 2035. **Re-fusion of Logic and Memory** The AI era, where data movement is more critical than computation, demands tight 3D integration of logic and memory, shifting industry influence towards memory and advanced packaging. **Remaining Challenges** include adapting EDA tools for 3D design, optimizing wafer-to-wafer process variation and vertical interconnect losses, and establishing new energy efficiency and benchmarking standards. **Conclusion:** The era of scaling physical dimensions is over. The era of scaling time has begun. By leveraging 3D stacking, system architecture, and interconnect optimization—rather than solely chasing advanced lithography—performance and efficiency can continue to advance. This is poised to be the semiconductor industry's core roadmap for the next decade.

marsbit42 min fa

τ Scaling: Huawei's New Growth Engine Designed for the Post-Moore Era

marsbit42 min fa

NodeStrategy: The First Ordinals DAT Project, Bringing the Strategy Treasury Narrative to NFTs

**Summary: The Fundamental Flaws of NodeStrategy, the 'First Ordinals DAT'** NodeStrategy presents itself as the first Ordinals Digital Asset Treasury (DAT) on Bitcoin. Its model mirrors MicroStrategy's treasury narrative but for NFTs, specifically targeting the NodeMonkes collection (not officially affiliated). The project's core mechanism is a four-step flywheel: a 10% fee on all trades (90% to treasury, 10% to radFi/Bound marketplace) is used to buy NodeMonkes. These NFTs are then listed for sale on Satflow, with 100% of the sale proceeds used to buy back and burn the project's token, NODESTRAT, aiming to create a perpetual value cycle. However, the design contains critical, self-defeating flaws: 1. **Platform Lock-In:** As a Bitcoin Rune, NODESTRAT lacks smart contract functionality and cannot natively enforce the 10% fee. The fee can only be collected on the radFi/Bound marketplace itself. This makes the entire flywheel dependent on a single platform. If liquidity moves elsewhere, fee revenue drops to zero, halting the mechanism. 2. **Self-Suffocating Economics:** The 10% fee acts both as the flywheel's fuel and a major drag on demand. A buy/sell roundtrip incurs a 20% cost, creating a massive hurdle for traders. This strangles the very trading volume needed to generate fees. 3. **Ineffective Value Support:** The flywheel is starved. Low daily volume (~$9K) generates minimal fees for NFT purchases. The NFT "ladder" sales are slow and unpredictable (only 39 total sold), meaning buybacks are infrequent. While 30.77% of the supply has been burned, this supply reduction cannot lift price without corresponding demand, which is suppressed by the high transaction tax. 4. **Meaningless NAV:** The Net Asset Value (NAV), currently at a 0.46x discount to market cap, is merely a marketing figure. There is no redemption mechanism for token holders to claim the underlying NodeMonkes assets. Price is set by market liquidity flows, not by this theoretical backing. In essence, NodeStrategy's design forces its revenue source (trading fees) to simultaneously cripple the demand and liquidity required for its own success, trapping the project in a stagnant state.

marsbit49 min fa

NodeStrategy: The First Ordinals DAT Project, Bringing the Strategy Treasury Narrative to NFTs

marsbit49 min fa

Agentic Design Patterns: A Book That Made Me Re-Understand "What Is an Agent, Really?"

"Agentic Design Patterns" is a 2025 book by Antonio Gullí, a Google engineering director, which offers a systematic framework for AI Agent development through 21 design patterns. A core contribution is the "Four Levels of Agency": Level 0 (bare LLMs) are not true agents. Level 1 agents actively decide when and how to use tools. Level 2 agents engage in strategic planning, context engineering (curating and filtering information), and self-reflection. Level 3 involves multi-agent collaboration with defined communication topologies. The book introduces **Context Engineering** as a superset of prompt engineering, managing four layers of information for the agent: system prompts, external data, implicit context (user history, environment), and feedback loops for automated optimization. A key pattern is **Reflection (Producer-Critic)**, where two distinct agents with different prompts collaborate iteratively—one produces output, the other critiques it—until quality is satisfactory or a max iteration limit is reached. For **Memory**, a three-layer model is proposed: Session (ephemeral conversation context), State (temporary task data), and Memory (persistent, long-term storage). Regarding **Multi-Agent Systems**, the book advises against unnecessary complexity, recommending simple topologies like Supervisor or Peer-to-Peer based on task needs. It emphasizes perfecting a single Level 2 agent before moving to multi-agent setups. The author concludes with three actionable takeaways: 1) Add a Critic agent to existing workflows, 2) Practice Context Engineering beyond simple prompts, and 3) Avoid premature multi-agent complexity; first master a robust single agent. The book provides a practical map, codifying common challenges like reflection, memory, and coordination into reusable patterns, saving developers from reinventing foundational solutions.

链捕手1 h fa

Agentic Design Patterns: A Book That Made Me Re-Understand "What Is an Agent, Really?"

链捕手1 h fa

Will ETH See Fund Inflows Again? Sharplink and BitMine Make It onto the Russell Index List

Two Ethereum (ETH)-related public companies, Sharplink (SBET) and BitMine (BMNR), will be added to the U.S. Russell Indexes on June 29, 2026. SBET is confirmed for the Russell 2000 and Russell 3000, while BMNR is on the preliminary list for the Russell 3000 and has a high chance of entering the Russell 1000. This inclusion acts as an "automatic shopping list" for massive passive investment funds like ETFs and pension plans, compelling them to buy these stocks to match the index composition. Consequently, millions of mainstream investors who do not directly trade crypto will automatically gain exposure to these Ethereum-linked equities through their index funds. This move channels significant passive capital—trillions of dollars track these indexes—into SBET and BMNR, integrating Ethereum-related investment opportunities into traditional financial portfolios. While the funds buy the companies' stocks, not ETH directly, this is expected to provide short-term price support for the stocks and increase their liquidity and institutional ownership. Over the long term, it could also indirectly incentivize the companies to acquire more ETH.

marsbit1 h fa

Will ETH See Fund Inflows Again? Sharplink and BitMine Make It onto the Russell Index List

marsbit1 h fa

Trading

Spot

Futures

Articoli Popolari

Come comprare DYDX

Benvenuto in HTX.com! Abbiamo reso l'acquisto di dYdX (DYDX) semplice e conveniente. Segui la nostra guida passo passo per intraprendere il tuo viaggio nel mondo delle criptovalute.Step 1: Crea il tuo Account HTXUsa la tua email o numero di telefono per registrarti il tuo account gratuito su HTX. Vivi un'esperienza facile e sblocca tutte le funzionalità,Crea il mio accountStep 2: Vai in Acquista crypto e seleziona il tuo metodo di pagamentoCarta di credito/debito: utilizza la tua Visa o Mastercard per acquistare immediatamente dYdXDYDX.Bilancio: Usa i fondi dal bilancio del tuo account HTX per fare trading senza problemi.Terze parti: abbiamo aggiunto metodi di pagamento molto utilizzati come Google Pay e Apple Pay per maggiore comodità.P2P: Fai trading direttamente con altri utenti HTX.Over-the-Counter (OTC): Offriamo servizi su misura e tassi di cambio competitivi per i trader.Step 3: Conserva dYdX (DYDX)Dopo aver acquistato dYdX (DYDX), conserva nel tuo account HTX. In alternativa, puoi inviare tramite trasferimento blockchain o scambiare per altre criptovalute.Step 4: Scambia dYdX (DYDX)Scambia facilmente dYdX (DYDX) nel mercato spot di HTX. Accedi al tuo account, seleziona la tua coppia di trading, esegui le tue operazioni e monitora in tempo reale. Offriamo un'esperienza user-friendly sia per chi ha appena iniziato che per i trader più esperti.

151 Totale visualizzazioniPubblicato il 2024.12.13Aggiornato il 2025.03.21

Discussioni

Benvenuto nella Community HTX. Qui puoi rimanere informato sugli ultimi sviluppi della piattaforma e accedere ad approfondimenti esperti sul mercato. Le opinioni degli utenti sul prezzo di DYDX DYDX sono presentate come di seguito.