Today I saw a post by Blue Fox (see the reference link at the end of the text), which mentioned the crypto assets held by the next Federal Reserve Chairman Kevin Warsh. Two points were quite impressive:

First, the variety of assets he holds is truly surprising.

Second, one of the projects he holds was quite avant-garde at the time.

This list enumerates nearly 30 types of crypto assets he holds, including well-known DeFi tokens (like Compound, dYdX, Lighter, etc.), Ethereum L2 (OP, Blast, etc.), L1 (Solana), NFTs (Crossmint, CreatorDAO, Dapper Labs, etc.), crypto funds (like Polychain, etc.), and equity in crypto companies (like Polymarket, etc.)...

Seeing this long list, I began to doubt whether it was actually him who purchased these assets and projects.

However, even if it wasn't him directly, it should be authorized by him. Even if it was his assistant, the fact that they could be involved in so many projects indicates that he has a highly open and closely attentive attitude towards the crypto ecosystem.

I have also seen some senior figures in the financial sectors of other countries express their understanding of the crypto ecosystem. Generally speaking, I consider it quite remarkable if they can mention Bitcoin and Ethereum as it shows they are "familiar" with the crypto ecosystem.

It's my first time seeing someone at his level participate so widely in so many crypto projects. Not to mention those at his level, even many deep players in the crypto ecosystem may not have participated in some of the projects he has been involved with; for example, I have seen the CreatorDAO project before, though I didn't participate, I still have an impression of it.

From this perspective, he truly qualifies as a genuine and active financial practitioner.

I wonder how many people at his level in the world can maintain such interest and attention towards new things and emerging projects?

Recalling the leaders in various financial fields appointed by Trump in this government, almost all are deep participants in the crypto ecosystem, which breaks my usual understanding of political figures at this level in the United States.

I used to think that people at their level, being so busy with politics and networking, could hardly have the time, energy, or interest to pay attention to new things.

But the truth is, there are far more people like this than I imagined. If there weren't so many candidates like this, Trump wouldn't be able to find suitable nominees familiar with the crypto ecosystem for these positions.

Despite the long list of assets, interestingly, it does not include Bitcoin and Ethereum.

Perhaps he is an extremely risk-seeking individual?

Or is the main purpose of participating in the crypto ecosystem not to make money, but to explore various novel things?

It's worth noting that there are two projects not listed in the list but he admitted to participating in, one is BASIS, and the other is Bitwise.

Let’s focus on BASIS.

This was originally an extremely avant-garde algorithmic stablecoin project called Basecoin from 2018, which even received funding from A16Z. But due to regulatory restrictions at the time, the project quickly shut down.

The truly interesting story happened two years later.

After the DeFi boom was ignited in 2020, this project was suddenly revived by an anonymous team and renamed Basis Cash (BAC). It attempted to purely use algorithms to create a stablecoin (BAC) through shares and bonds.

I participated in this project at that time. My impression was that after joining, the inflation rate of BAC was astonishingly high in just a few days, creating a strong feeling that such inflation would likely be unsustainable, so I completely withdrew from the project.

A purely algorithmic stablecoin was a major highlight during the DeFi boom and was highly anticipated by many people. If this experiment could succeed, it could indeed overturn the existing monetary system.

Though the experiment ultimately failed, those bold practitioners from back then are still very admirable.

Kevin Warsh's willingness to participate in such projects at that time shows his inclusiveness and curiosity towards new things, as well as his spirit of bold exploration.

This truly does not resemble someone who has been a seasoned figure in the political and professional world.

Reference link:

https://x.com/lanhubiji/status/2044222149456736634?s=20

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