US senators are for the second time calling on financial giant Fidelity to reconsider offering Bitcoin (BTC) as an investment in 401(k) retirement accounts.
In a letter to Fidelity CEO Abigail Johnson, US Senators Richard Durbin, Elizabeth Warren and Tina Smith say the recent FTX crypto exchange collapse underscores their position that Bitcoin is too risky a bet for workers’ retirement investments.
The senators had previously opposed the move when Fidelity announced the Bitcoin offering in April.
“In light of the recent stunning events in the digital asset market, we write today as a follow-up to our previous letter sent on July 26, 2022. Once again, we strongly urge Fidelity Investments to reconsider its decision to allow 401(k) plan sponsors to expose plan participants to