Trump formally nominates Kevin Warsh as next Fed chair, setting Senate confirmation process in motion

U.S. President Donald Trump has formally nominated Kevin Warsh—who has voiced a pro-Bitcoin (BTC) stance—as the next chair of the Federal Reserve (Fed).

According to a report by Cointelegraph on the 5th (local time), the White House said Trump submitted Warsh’s nomination to the Senate to appoint him as Fed chair. Warsh will serve a four-year term as chair and a 14-year term as a member of the Fed’s Board of Governors.

Warsh served as a Fed governor from 2006 to 2011, spanning the George W. Bush and Barack Obama administrations. He later worked as a visiting scholar in economics at Stanford University’s Hoover Institution.

In several past interviews, he has expressed a positive view of Bitcoin. In a 2021 CNBC interview, Warsh said, “If Bitcoin didn’t exist, the price of gold would have risen further,” adding, “For the under-40 generation, Bitcoin is the new gold.”

In a 2025 Hoover Institution interview, he also remarked, “Bitcoin is an important asset that can provide market signals to policymakers,” and added, “Bitcoin doesn’t make me uneasy.”

The current Fed chair, Jerome Powell, will see his term as chair end on May 15. However, he can remain on the Board of Governors until January 2028.

Warsh’s nomination must go through the Senate confirmation process, and may face opposition from some Democratic lawmakers. Senate Minority Leader Chuck Schumer has previously said he opposes confirmation, arguing it could “undermine the Fed’s independence.”

Meanwhile, Trump has not yet submitted additional nominees for commissioner posts at the Commodity Futures Trading Commission (CFTC) to the Senate. If legislation on cryptocurrency market structure passes, the CFTC’s oversight authority could expand, drawing attention to upcoming appointments as well.