Letitia James has rallied Congress to support stopping US retirement funds from investing in crypto or crypto ETFs, which she claimed have “no intrinsic value.”
Retirement News
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The accounts allow for buying and selling Bitcoin, Ether, and Litecoin under a 1% spread fee.
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Senator Tommy Tuberville introduced the Financial Freedom Act in 2022 and 2023. Both times, the legislation failed to get out of committee.
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The legislation also requires state pension funds to evaluate investing in crypto exchange-traded funds, and covers the right to self-custody and crypto mining.
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California has the largest investment in Strategy stock with more than $150 million held in state retirement funds, says Bitcoin analyst Julian Fahrer.
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Australia has a superannuation system requiring employers to allocate a portion of an employee’s earnings to a retirement account.
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1971 Capital chief investment officer Brian Russ says Ethereum is undervalued and that Bitcoin, gold and silver are in a long bull market.
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Pension funds often feature smaller alternative asset allocations and deep liquidity to mitigate risk, Allie Itami told Cointelegraph.
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Cartwright reported that an “unnamed scheme” based in the UK had made a 3% allocation of Bitcoin into its pension fund.
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The lawsuit, initially filed by IRA in June 2022, alleged that Gemini misrepresented its security protections, resulting in an exploit that removed $36 million in crypto.
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Bitcoin is increasingly viewed as a retirement investment product by traditional investors, thanks to the approval of spot Bitcoin ETFs.
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“Bitcoin now has a place at the table alongside gold, farmland and other alternative assets”— something unthinkable five years ago.
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Satoshi Action Fund CEO Dennis Porter said even adding a small amount of Bitcoin ETF exposure could “DRAMATICALLY” de-risk an asset portfolio.
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The rise in positive sentiment was skewed heavily by those aged 55 and above, where Bitcoin sentiment increased by 100%.
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Australians are increasingly adding cryptocurrency to their “self-managed super funds” as a means to secure their retirement life, according to newly released data.
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