Democratic senators chide Fidelity Investments for BTC-exposed retirement funds
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....
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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....
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 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....
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 […]
Mutual fund Fidelity is denying claims that bitcoin can be used in self-directed IRAs (Individual Retirement Accounts) held through the company. On Wednesday, CNBC and MarketWatch both reported that Fidelity's investors could choose to invest funds in the Bitcoin Investment Trust (BIT). However, Fidelity was quick to deny the reports. Bitcoins for retirement - if you're a Fidelity client you can invest your self directed IRA in the Bitcoin Investment Trust. $25k minimum. - Mary Thompson (@MThompsonCNBC) December 11, 2013. Fidelity responded via twitter that it was not offering bitcoin....