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The US Senate confirmed Kevin Walsh as a member of the Federal Reserve Board of Governors with 51 votes in favor and 45 votes against, and plans to initiate the confirmation process for him to also serve as the Chairman of the Federal Reserve. The procedural vote is expected to be completed as early as May 13th. Walsh previously held investments in cryptocurrency and blockchain enterprises and has promised to complete the divestment. The current chairman Powell's term will expire this Friday, during which he plans to continue serving on the board.