U.S. Senators Condemn Fidelity Investments’ Bitcoin 401(k) In Open Letter
Three senators chastised Fidelity for offering a bitcoin 401(k) option claiming it is too volatile and untested to be used as a retirement savings tool.U.S. Senators wrote an open letter to the CEO of Fidelity regarding its bitcoin 401(k) plan.Senators condemned the financial institution for offering bitcoin as an optional retirement investment strategy. The senators also recognize the struggles of Americans trying to save for retirement but can’t seem to understand traditional finance is the problem.An open letter from three U.S. Senators was sent to the CEO of Fidelity Investments to....
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U.S. Senators requested Fidelity to explain how the firm is planning to address the risks of adding Bitcoin into retirement accounts by May 18. The United States government is growing increasingly concerned about Bitcoin (BTC) in retirement savings, with two Senators flagging some issues in Fidelity Investments’ plans to include Bitcoin (BTC) in 401(k) accounts.Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota expressed concerns over Fidelity’s decision to add BTC to its 401(k) investment plan in a letter to Fidelity CEO Abigail Johnson.Dated May 4, the letter suggests....
Crypto critic Elizabeth Warren and two colleagues write to the Fidelity CEO again to express their displeasure with crypto-exposed 401(k) offerings. Three United States senators have written to Fidelity Investments CEO Abigail Johnson demanding an explanation for the financial services company’s decision to include Bitcoin-exposed funds in its 401(k) retirement plans. “This decision is immensely troubling,” they wrote.Democrats Dick Durbin, Elizabeth Warren and Tina Smith sent their letter Tuesday. The letter, which is around a page and a half long, discussed Americans’ retirement savings....
A group of U.S. Senator addressed a letter to Abigail Johnson, CEO of investment firm Fidelity, regarding its Bitcoin retirement plans. The document was signed by Senators Elizabeth Warren, Richard Durbin, and Tina Smith. Related Reading | Crypto Futures Market Sees $400m Flushed As Bitcoin Breaks $23k The investment firm launched its Bitcoin-based 401 (k) plans […]
Two U.S. senators, including Elizabeth Warren, have sent a letter to Fidelity Investments demanding answers regarding the company’s decision to allow bitcoin investments in 401(k) retirement plans. “Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings,” the lawmakers wrote.
US Lawmakers Concerned About Fidelity Allowing Bitcoin Investments in 401(k) Plans
U.S. Senator Elizabeth Warren (D-MA) has sent a letter to Abigail Johnson, the CEO....
Fidelity Digital Asset Services has revealed the company is expanding into Asia and plans to help high-net-worth investors and family offices in the region with custodial crypto products. Fidelity is working with the Singaporean startup Stack Funds, a fully-insured custody operation servicing traditional financial institutions. Fidelity Investments Inc., is an American multinational financial services corporation that operates a subsidiary called Fidelity Digital Asset Services (FDAS). As of June 2020, the Boston-based Fidelity is one of the largest asset managers worldwide with $3.3....