Trump has 11 on the Fed’s chair list, three may be crypt-friendly

The Trump administration is considering at least 11 candidates to potentially replace Jerome Powell when his term as Federal Reserve Chairman expires in May. At least three people have publicly expressed a positive attitude towards Crypto.

Treasury Secretary Scott Bessent told Fox News Wednesday that the Fed chair has 11 “very strong candidates.”

As CNBC reported that it cited two administrative officials on August 13, the list of candidates includes Federal President Dallas, President Rory Logan, former President St. Louis Fried James Bullard, vice-chairman Philip Jefferson, vice-chairman Philip Jefferson, assistant director Chris Associate Michelle Bowman and former federal government Larry Lindsay.

There are 11 strong FRD chair candidates. After Labor Day, we begin an interview and present a list of candidates to President Trump. @Potus has great respect for monetary policy, the Fed, and wants a leader who can restore its mission and reliability. pic.twitter.com/iaw6sg8fvu

– Treasury Secretary Scott Bescent (@secscottbessent) August 27, 2025

The list also includes Mark Schmerlin, economic adviser to the Bush administration, David Zervos, chief market strategist at investment bank Jeffries, and Chief Investment Officer of BlackRock, the global bond-rick leader.

The Federal Reserve sets US interest rates that affect how the market invests. Lower interest rates increase liquidity and usually bets on volatile and dangerous assets like crypto, whereas higher interest rates usually see investors selling more risky bets.

Jefferies’ Zervos, BlackRock leaders have an indirect relationship with cryptography

Jefferies, the investment bank where Zervos directs its strategy, is involved in encrypted entities.

The bank has supported the recent public debut of trading platform Etoro, Stablecoin Issuer Circle Internet Group, Crypto Exchange Bullish and Crypto-based lender figure technology solutions.

He also bets early on Bitcoin (BTC) to buy Michael Saylor’s strategic ambitions, reportedly having a senior banker dedicated to Crypto for at least five years.

Meanwhile, BlackRock’s Rieder has created a positive comemntary against Crypto.

He told the Wall Street Journal in early 2024 that Bitcoin is “a likely to be a big part of the asset allocation framework,” and that “people will become more and more comfortable over time.”

Related: Bitcoin won’t be “price” until Trump announces a new Fed chair

The leader told CNBC in November 2020 that crypto and Bitcoin were “here to stay,” and that he thought “the acceptability of technology and cryptocurrency, especially millennials — was real.

BlackRock has the largest exchange trade funds for Bitcoin and Ether (ETH) on the market.

Feds Waller, Bowman moves crypt-friendly

Other candidates include Fed Waller and Bowman.

Bowman, a Fed regulator, said on August 20 that central bank staff should be allowed to invest in Crypto in order to understand the technology, adding that it will help with a “practical understanding of the underlying features.”

Fed governor Waller said a day later that he “doesn’t be afraid of anything” about crypto payments, which the banking sector operates outside the traditional banking system.

In comparison, Powell deals with cryptography multiple times, and encourages a more cautious approach. He said in June that he hopes that crypto will become more mainstream and that banks will increase engagement with the sector.

In December, he said Bitcoin is more like a gold competitor than the US dollar.

Powell’s tenure as chairman will end in May, but his 14-year term with the Fed Committee will end in early 2028. His much-anticipated speech on Friday raised hopes for interest rate cuts.

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