Trump’s nominee for Federal Reserve chair, Kevin Warsh, has disclosed an equity stake in Bitcoin payments start-up Flashnet. The holding appeared in financial disclosure forms filed ahead of Warsh’s Senate confirmation hearing, which could begin as soon as this week but will most likely start next week.
Flashnet positions itself as a lightning-style Bitcoin payment system for merchants and fintech platforms, part of a broader push to speed up and cheapen transactions on the Bitcoin network. Warsh’s stake links the incoming Fed chief directly to a company whose fortunes depend on Bitcoin adoption and transaction volume, at a time when he has publicly framed Bitcoin as “an important asset” and “a very good policeman for policy.”
During past comments, he has argued that Bitcoin’s price can signal when the Fed is behind the curve on inflation or financial conditions.
The Fed chair oversees interest-rate policy and the regulatory environment that shapes liquidity conditions for all risk assets, including cryptocurrencies. Warsh has been cast in some corners of the industry as the first overtly pro‑Bitcoin Fed chair, with supporters arguing that his familiarity with the asset class will help with institutional normalization rather than bias.
$100 million in filings for Warsh
Warsh disclosed other assets likely exceeding $100 million in the required ethics filings. His report lists massive investments, including stakes over $50 million in Juggernaut Fund LP and multimillion-dollar consulting income from Stanley Druckenmiller’s firm, alongside numerous holdings in AI and other crypto ventures.
Warsh pledged to divest several opaque or potentially conflicting assets, a step ethics officials said would bring him into compliance. The filing advances his nomination to replace Jerome Powell, with a Senate confirmation hearing expected as early as next week.
The disclosure also included assets held by Warsh’s spouse, Jane Lauder, whose family is tied to the Estée Lauder Companies. Forbes estimates her net worth at about $1.9 billion. Several of her municipal bond holdings were reported broadly, with some listed simply as “over $1 million.”
Warsh reported relatively modest liabilities. These include a 2015 mortgage of up to $5 million from JPMorgan Chase at a 2.75% rate, a revolving line of credit of up to $5 million from PNC Bank at roughly 6%, and capital commitments totaling $1.95 million to THSDFS LLC, one of the holdings he has pledged to divest.
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