Trump's Pick for Fed Chair Points to Growing Bitcoin-Dollar Synthesis
Gizmodo • • business
Key Points:
- President Trump has nominated Kevin Warsh, former Federal Reserve Board governor under Bush and Obama, to replace Jerome Powell as Fed Chairman in May, drawing significant attention from the crypto industry due to Warsh's mixed past statements on bitcoin, CBDCs, stablecoins, and blockchain technology.
- Warsh has supported CBDCs over stablecoins but was an investor in the stablecoin startup Basis, which developed algorithmic stablecoins similar to those involved in the 2022 crypto collapse, and was involved early with Bitwise Asset Management, a firm offering bitcoin ETFs.
- Warsh has made generally neutral to positive remarks about bitcoin, describing it as "gold for anyone under 40" and viewing it as a useful asset for informing policymakers rather than a dollar
