# What does the new Fed Chair mean for Crypto?

_+ is it time to go "risk-on?"_

February 4, 2026 • Michael Nadeau

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# What does the new Fed Chair mean for Crypto?

## + is it time to go "risk-on?"

Michael Nadeau
 February 04, 2026

 Hello readers,

 This report is for TDR Pro members, but we are currently running a *one-month free trial.* If you’d like to sign up, you can do so [here](https://buy.stripe.com/3cIaEXgAKaWectn4sOebu04?utm_source=thedefireport.beehiiv.com&utm_medium=referral&utm_campaign=what-does-the-new-fed-chair-mean-for-crypto).

 Back to business.

 BTC is now trading well below $80k. And we now have Trump’s pick for the next Fed Chair.

 That means it’s time to lock in.

 In this week’s report, we examine what Kevin Warsh could mean for crypto in 2026, provide an update on the current setup, and share how we’re thinking about portfolio management.

 Topics covered:

- [What does Kevin Warsh mean for Crypto?](#what-does-kevin-warsh-mean-for-cryp)

- [“Cycle Awareness” Update](#cycle-awareness-update)

- [The Setup](#the-setup)

- [Portfolio Management](#portfolio-management)

***Disclaimer:**** Views expressed are the author’s personal views and should not be relied upon as investment advice. *

*Grab a cup of coffee or your favorite adult beverage and settle in; we have a lot to unpack this week. *

 Let’s go.

# What does Kevin Warsh Mean for Crypto in 2026?

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