Kevin Wash Confirmed as Federal Reserve Chair on May 13 With 54-45 Senate Vote, Takes Office May 15

According to the U.S. Senate, Kevin Wash was confirmed as Federal Reserve chair on May 13 with a 54-45 vote, becoming the first Fed chair with direct digital asset investments and ongoing industry involvement. Wash will assume the position on May 15, succeeding Jerome Powell.

According to financial disclosure filings reviewed by the U.S. Office of Government Ethics, Wash holds stakes in over 20 digital asset and blockchain-related companies, including Solana, Optimism, Compound, and Polymarket, spanning DeFi, Layer 1 and Layer 2 blockchains, and Bitcoin infrastructure. During his Senate confirmation hearing on April 21, Wash stated that digital assets have already become part of the U.S. financial services industry structure, contrasting sharply with previous Fed chairs' skepticism toward cryptocurrencies.