PANews reported on April 22 that, according to The Block, Federal Reserve Chairman nominee Kevin Warsh stated at his Senate Banking Committee hearing that digital assets have become integrated into the U.S. financial services industry and should be incorporated into the financial system. Warsh's previously disclosed financial information shows that he holds dozens of crypto assets, including dYdX, Lighter, Polychain, Dapper Labs, Solana, and Optimism. Warsh supports exploring limited central bank digital currencies (CBDCs) but stated that issuing a CBDC would be a "bad policy choice."

Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, suggested at her hearing that Warsh could become a "puppet" of Trump, potentially leading the president to use the Federal Reserve's power to benefit his family's crypto company. Senator Tillis stated that she would not vote for Warsh's nomination until the Justice Department's investigation into Federal Reserve Chairman Powell is resolved.