US senators urge Fidelity to reconsider its Bitcoin offerings after FTX blow-up

US senators urge Fidelity to reconsider its Bitcoin offerings after FTX blow-up


United States senators Elizabeth Warren, Tina Smith, and Richard Durbin have renewed their calls for Fidelity Investments to reconsider offering a Bitcoin (BTC)-linked 401(k) retirement product. 

In a letter addressed to Fidelity Investments CEO Abigail Johnson on Nov. 21, the three senators said the recent fall of FTX is more reason than any for the $4.5 million asset management firm to reconsider its Bitcoin offering to retirement savers, stating:

“The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems.”

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The senators also added that “charismatic wunderkinds, opportunistic fraudsters, and self-proclaimed investment advisors” have played a huge role in manipulating the price of Bitcoin (BTC), which in turn has impacted 401(k) retirement savings holders who have invested

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