US Senators Urge Fidelity to Stop Offering Bitcoin in 401 Plans Citing FTX Collapse, 'Serious Problems' in Crypto Industry
Several U.S. senators have called on Fidelity Investments to reconsider allowing bitcoin in 401 retirement plans. “The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems,” the lawmakers told Fidelity CEO Abigail Johnson.Three U.S. senators sent a letter to Fidelity Investments CEO Abigail Johnson Monday regarding the financial services firm’s bitcoinin 401 retirement plans.
Reiterating their concerns about Fidelity allowing bitcoin exposure in retirement plans, the lawmakers stressed: “Once again, we strongly urge Fidelity Investments to reconsider its decision to allow 401 plan sponsors to expose plan participants to bitcoin.”, the digital asset industry has only grown more volatile, tumultuous, and chaotic — all features of an asset class no plan sponsor or person saving for retirement should want to go anywhere near.
The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems. The industry is full of charismatic wunderkinds, opportunistic fraudsters, and self-proclaimed investment advisors promoting financial products with little to no transparency.
us. government does not discourage American citizens to invest in other countries currencies. yet bit coin that is not subject to currency manipulation by printing more like any government entity in the world. the big argument against paper money issued by governments was it was
Shame on you SenWarren .
‘But…we don’t make any sort of (what you might call) ethical decision, we’re driven by greed’ 🤷♂️ - Fidelity
This is really some new idea about using bitcoin.
Giving people a choice for risky investments for their retirements can be a tough choice. When it goes well, everyone is happy. When it goes bad, everyone blames them.
SBF's dad drafted her 2016 tax legislation.
If gBTC goes under, the right move
That’s so shameful, Gemini planned this to trap our funds, they must have gotten a handsome cut, now Genesis declaring bankruptcy to get off the hook
this chick went from billionaire to thousandaire tears
This dirty and disgusting act of ftx is no different from what central banks do. The damage is paid back by taxes by the citizens of the world. Only the top few get full.
I demand that US Senators learn about Bitcoin!
All this fake so called “left” senators Trying to influence what retirement plan companies offer You better should fight for a real state retirement plan for workers instead of letting pensions to be a whole private business! But as long as it’s private, you have nothing to say
goodfreephotos
UPDATE:
MASTER:
incredible!
incredible!
They want to shut it down---they could care less about you.
Cost of petrol :वेनेजुएला पेट्रोल 1.31 रुपये/लीटर दुनिया में सबसे सस्ता पेट्रोल फिलहाल,लिबिया में पेट्रोल 2.54 रुपये प्रति लीटर.ईरान में पेट्रोल 4.34,अल्जीरिया 27.07 रुपये लीटर है,कुवैत में पेट्रोल 27.89 रुपये प्रति लीटर. The unbalanced prizes & trade gap .Poor WTO,no use.
Sry Senators. Some of us were not born into privilege. But chances are we will pass you.
So what's her problem .?
let the people choose
Ringing the bell at the bottom.
There are rumors that that grandmother is also related to ftx...
The more they do this makes crypto more appealing to some of us. The only reason they would reject it is because it threatens their leopard the rich rich
America is all old people... no future. Young people lose their jobs due to old people's behavior, and the Nomad Land movie was a true story.
What a bore these knuckleheads are.
I strongly urge the senator, to stop being a politician.
Anything Pocahontas says is so good..
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