Trump Fed pick Kevin Warsh discloses equity stake in Bitcoin payments startup Flashnet.

Trump’s nominee for Federal Reserve chair, Kevin Warsh, has disclosed an equity stake in Flashnet, a Bitcoin payments start-up, in financial disclosure forms filed ahead of his Senate confirmation hearing. The hearing could begin as soon as this week, though it is most likely to start next week.

Flashnet stake and the Bitcoin payments push

Flashnet describes itself as a “lightning-style” Bitcoin payment system for merchants and fintech platforms, positioned within a broader effort to make Bitcoin transactions faster and cheaper. Warsh’s stake ties the incoming Fed chair directly to a company whose performance depends on Bitcoin adoption and transaction volume.

Warsh has previously characterized Bitcoin as “an important asset” and “a very good policeman for policy.” In earlier remarks, he argued that Bitcoin’s price can indicate whether the Fed is “behind the curve” on inflation or broader financial conditions.

Why the Fed role matters for crypto markets

The Fed chair oversees interest-rate policy and the regulatory environment that influences liquidity conditions for risk assets, including cryptocurrencies. Warsh has been described by some in the industry as the first overtly pro-Bitcoin Fed chair, with supporters arguing that his familiarity with the asset class could support institutional normalization rather than create bias.

Other disclosed assets and planned divestments

Warsh also disclosed other assets that are likely to exceed $100 million in the required ethics filings. The report includes large investments, such as stakes over $50 million in Juggernaut Fund LP, as well as multimillion-dollar consulting income from Stanley Druckenmiller’s firm. It also lists numerous holdings in AI and other crypto ventures.

Warsh pledged to divest several assets that ethics officials described as opaque or potentially conflicting. Officials said the divestments would bring him into compliance.

Nomination timeline and spouse disclosures

The disclosure advances Warsh’s nomination to replace Jerome Powell, with a Senate confirmation hearing expected as early as next week.

The filing also included assets held by Warsh’s spouse, Jane Lauder, whose family is tied to Estée Lauder Companies. Forbes estimates her net worth at about $1.9 billion. Some of her municipal bond holdings were reported broadly, including items listed simply as “over $1 million.”

Liabilities reported

Warsh reported relatively modest liabilities, including a 2015 mortgage of up to $5 million from JPMorgan Chase at a 2.75% rate. He also disclosed 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.