• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

US Senators Call on Fidelity to Stop Offering Bitcoin “Retirement” Products

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

US senators have sent a different letter to investment giant Fidelity Investments, warning them not to supply Bitcoin to their consumers just after the FTX crash.

US Senators urge Fidelity to stop supplying products "retirement" into Bitcoins
US Senators Call on Fidelity to Stop Offering Bitcoin Retirement Products

Senators Elizabeth Warren of Massachusetts, Tina Smith of Minnesota, and Richard Durbin of Illinois all signed the letter asking Fidelity to scrap its Bitcoin 401(k) approach.

Related articles

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

Bitcoin is at $67K but analysis warns BTC price could drop 10% next

May 20, 2024
Avalanche (AVAX) price is among the few altcoins that have dropped sharply

Avalanche (AVAX) price tag is amid the couple of altcoins that have dropped sharply – Bitcoin News 2024

April 16, 2024

The FTX implosion manufactured it clear that the digital asset marketplace is in significant difficulties. I joined @SenWarren & @SenTinaSmith to urge Fidelity to do what is greatest and reconsider its choice to expose employer-sponsored retirement accounts and strategies to these volatile assets. pic.twitter.com/qQn4PF80AP

— Senator Dick Durbin (@SenatorDurbin) November 21, 2022

Boston-based mostly Fidelity is 1 of the biggest wealth management companies in the planet and the biggest US supplier of 401(k) financial savings accounts. In April 2022, the enterprise launched a new item that provides participating corporations and their staff members accessibility to investing in Bitcoin (BTC) by means of a private retirement fund.

But at the very same time, Senators Warren and Smith sent a letter to Fidelity telling the enterprise it was a negative plan. This time a new letter was sent, signed by Senator Durbin.

“Once once again, we strongly urge Fidelity Investments to reconsider its choice to let 401(k) approach sponsors to expose approach participants to Bitcoin. The latest crash of FTX has plainly demonstrated that the cryptocurrency marketplace is encountering significant challenges.”

FTX was when 1 of the biggest cryptocurrency exchanges globally, but it collapsed this month just after shedding billions of bucks in investor income. The exchange allegedly made use of consumer money for risky investments by means of the Alameda Research fund.

A filing above the weekend by FTX demonstrates that the exchange has additional than 50 key creditors well worth $three.one billion. Notably, FTX is also a key political campaign donor. Former CEO Sam Bankman-Fried is between the twenty biggest donors to Joe Biden’s 2020 US presidential campaign, contributing $five.two million.

Ahead of getting the letter from US lawmakers, earlier this month, Fidelity Investments announced a waitlist for early accessibility to its newest crypto item, an app that enables retail traders to translate Bitcoin and Ethereum from their phones with no costs.

Synthetic currency68

Maybe you are interested:

Maybe you are interested:

Tags: BitcoincallFidelityOfferingProductsRetirementsenatorsStop
Share76Tweet47

Related Posts

Bitcoin’s Quiet 2025 Could Signal Major Crypto Shift

by shark
June 6, 2025
0

Bitcoin experiences calm trading in 2025, analysts foresee pivotal crypto changes ahead.

California Assembly Advances Bill on Dormant Crypto Assets

by shark
June 5, 2025
0

California's State Assembly approves AB-1052, designating long-inactive crypto assets as unclaimed property.

BlackRock ETF Leads Bitcoin Inflow with $284 Million

by shark
June 5, 2025
0

Spot Bitcoin ETFs see $87M net inflow, BlackRock's IBIT leads with $284M.

Moroccan Authorities Arrest Crypto-Related Kidnapping Suspect

by shark
June 5, 2025
0

Moroccan police arrest suspect linked to crypto kidnappings in France, impacting entrepreneurs and urging security enhancements.

Solo Miner ‘Solo CK’ Earns $330K in Bitcoin Block

by shark
June 5, 2025
0

Solo CK, a Bitcoin miner, earned $330,386 by mining a Bitcoin block, showcasing individual success in the mining community.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Bitcoin’s Quiet 2025 Could Signal Major Crypto Shift
  • California Assembly Advances Bill on Dormant Crypto Assets
  • BlackRock ETF Leads Bitcoin Inflow with $284 Million
  • Qubetics Kaspa and Tezos Emerge as the Best Crypto to Buy Now After Policy Shifts Shape 2025 Trends
  • Moroccan Authorities Arrest Crypto-Related Kidnapping Suspect
  • Solo Miner ‘Solo CK’ Earns $330K in Bitcoin Block
  • US-El Salvador Dialogue Sparks Bitcoin Market Optimism
  • Crypto Leverage Risk Increases, CeFi and DeFi Interdependencies Tighten
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7