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

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cointelegraph.com

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 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 in Fidelity’s Bitcoin product:“While the full extent of the damage caused by FTX continues to unfold, the contagion is being felt across the broader digital asset market.

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