Kevin Warsh is set to become Chair of the Federal Reserve after the Senate confirmed him to the Fed board on May 12 with a 51-45 vote. A separate confirmation vote for the Chair role was expected on May 13 or 14, with Polymarket odds sitting at 93.5% before the board vote cleared. Jerome Powell exits on Friday, May 15. For crypto markets, the leadership change at 20th Street carries real weight: Warsh has called Bitcoin “the new gold for anyone under forty” and said the asset “does not concern him at all,” a sharp departure from Powell’s eight years of cautious distance from digital assets.
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