US President Donald Trump said on Friday he will nominate Federal Reserve Governor and crypto-friendly Kevin Warsh to succeed Jerome Powell as chairman of the US central bank, now paving the way for a high-stakes confirmation battle in the Senate.
Jerome Powell’s leadership term ends in May, giving Trump’s frequent Fed critic a chance to put his idea of a “regime change” of monetary policy into practice just as the White House pushes for more control over interest rate setting.
JUST IN: 🇺🇸 President Trump officially nominates pro-Bitcoin Kevin Warsh as the new Chairman of the Federal Reserve!
This is bullish for $BTC and crypto! 🔥 pic.twitter.com/fAWgqelYBf
— CEO (@Investments_CEO) January 30, 2026
The decision of the American president, announced on Truth Social, confirmed earlier reports that Trump would move forward with the 55-year-old ex-Fed official and Morgan Stanley banker as his candidate of choice.
The president said he had known Warsh for a long time and had “no doubt” that he would go down in history as “one of the GREAT Fed chairs, perhaps the best.”
Predictive markets and Wall Street commentators had increasingly pegged Warsh as Trump’s likely choice, with all expectations to rise sharply ahead of Friday’s announcement.
What Trump’s Fed Pick Means for Crypto
The nomination comes during a turbulent period for digital assets. During this withdrawal the Bitcoin price fell sharply this week from a high of nearly $90,400 to a low of about $81,300.
BTC is down 6.5% over the past seven days and is trading at $83,967 as of 11:26 PM EST, despite rising 1.2% in the past 24 hours.
Historically, the Fed’s decisions on interest rates have mattered for cryptocurrencies because assets typically behave as so-called risk investments. When interest rates are high, safer yields like U.S. Treasury bonds become more attractive, drawing capital away from volatile assets like cryptocurrencies.
Conversely, lower interest rates increase liquidity in the financial system, often pushing investors toward riskier investments.
Warsh is seen as more hawkish than Powell because of his past criticism of the Fed’s quantitative easing and balance sheet expansion.
*TRUMP SAYS WARSH WILL LOWER PRICES WITHOUT PRESSURE FROM THE WHITE HOUSE
*TRUMP: WARSH WANTS TO LOWER RATESMARKET SAYS: NO HE DOESN’T DO THAT
— zerohedge (@zerohedge) January 30, 2026
Trump’s pick was noticeably more bullish on Bitcoin than Powell, who repeatedly downplayed the cryptocurrency’s significance in the economy.
However, Warsh in a recent discussion rejected the idea that Bitcoin would weaken the Fed’s ability to steer the economy, arguing instead that it could act as a form of market discipline.
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