Kevin Warsh to Serve As Treasury Secretary, Replace Fed Chair Powell Later: WSJ

Kevin Warsh, former Federal Reserve Board of Governors official, leads the US Treasury Secretary nomination race. Donald Trump’s transition team considering appointing Warsh as Treasury Secretary now and later naming him as US Federal Reserve (Fed) Chair replacing Jerome Powell when his term gets over.

The crypto community remains skeptical about Kevin as he turned towards supporting CBDC despite being an early investor in crypto firms.

Trump Likely to Nominate Kevin Warsh as US Treasury Secretary

Sources told the Wall Street Journal on November 22 that US President-elect Donald Trump floated the idea of naming Kevin Warsh as Treasury Secretary. Warsh and Apollo Global Management CEO Marc Rowan met with Donald Trump on Wednesday.

Also, the Trump transition team considered Warsh to replace Jerome Powell later as Federal Reserve Chairman. Fed Chair Powell’s term ends in mid-2026. Donald Trump is also thinking about appointing Scott Bessent to lead the White House National Economic Council and later replace Warsh as the Treasury Secretary.

Polymarket data indicates significant fluctuations in odds for the top Treasury position. At press time, Warsh leads with 60% odds of getting picked for the top Treasury position.

US SEC Chairman Position In Discussion

Gary Gensler has officially announced his resignation as US SEC Chair and debates on the candidates have picked pace. XRP lawyer John Deaton supports Brad Bondi as his first choice to become the next US SEC Chairman. Notably, President Donald Trump has nominated Brad’s sister former Florida AG Pam Bondi as the next Attorney General of the United States of America.

While Kevin Warsh leads for Treasury position, crypto community including Ripple CLO Stuart Alderoty requested the transition team to make the right call with the SEC Chair pick. Alderoty claims guaranteeing accountability and restoring public trust again is crucial.

Meanwhile, pro-crypto Paul Atkins leads the race to replace Gensler as SEC Chair. Deaton and the crypto community have welcomed the latest progress under Trump. It could fuel the XRP rally to $2 further.

Kalshi prediction market indicates 59% odds for Atkins to become the next SEC Chairman. While experts adhere to Atkins, the data on prediction markets is fluctuating significantly.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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