Fed Chair Warsh Rules Out a Crypto Bailout, With a Caveat for "Extraordinary" Risk

"We do not want to be in the bailout business, full stop," Warsh told the House, days before the July 18 deadline to finalize GENIUS Act stablecoin rules.

Kevin Warsh, chair of the Federal Reserve, told the House Financial Services Committee that the central bank will not rescue the cryptocurrency industry in a crisis. "We do not want to be in the bailout business, full stop," he said, accord…