US Senators Ask The $4.5 Trillion Investment Company Fidelity to Reconsider Its Exposure to Bitcoin

In the wake of the FTX collapse, US Senators have asked the $4.5 trillion investment company Fidelity to reconsider its exposure to bitcoin.

Three US senators urged Fidelity Investments, a significant provider of financial services, to reconsider opening workplace retirement plans to bitcoin (BTC).

Senators Richard Durbin, Elizabeth Warren, and Tina Smith of the Democratic Party wrote a letter to Abigail Johnson, the CEO of the corporation, urging her to rethink the company's decision to let 401(k) plan sponsors to expose members to bitcoin.

Employer-sponsored defined-contribution pension accounts are known as 401(k) plans, and the largest supplier of these pension plans in the US is Fidelity Investments.