11.21.22

Bitcoin in Your 401(k)? Senators Intensify Pressure on Fidelity To Reconsider Crypto in Retirement Plans

by: Jessica Hall

U.S. Senate Democrats are upping the pressure on Fidelity Investments to reconsider its decision to allow employers to offer bitcoin exposure to 401(k) plan participants in the wake of crypto exchange FTX filing for bankruptcy. The senators first wrote a letter to Fidelity in July. “Since our previous letter, 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 senators wrote in the latest letter.

Read the full article on MarketWatch