Bitcoin
US Senators Demand Fidelity to End Offering Bitcoin in 401 (k) Plans Citing FTX Colapse, ‘Serious Issues’ in Crypto Industry
Several U.S. senators have called on Fidelity Investments to reconsider allowing bitcoin in 401(k) retirement plans. Abigail Johnson, a Fidelity CEO, stated that “the recent implosion at FTX, a cryptocurrency trading platform, has made it abundantly obvious the digital asset sector has serious problems.”
US Senators Demand Fidelity to End Offering Bitcoin in Retirement Plans
Three U.S. senators sent a letter to Fidelity Investments CEO Abigail Johnson Monday regarding the financial services firm’s bitcoin offerings in 401(k) retirement plans. Senators Elizabeth Warren (D.MA), Richard J. Durbin, and Tina Smith signed the letter.
Reiterating their concerns about Fidelity allowing bitcoin exposure in retirement plans, the lawmakers stressed: “Once again, we strongly urge Fidelity Investments to reconsider its decision to allow 401(k) plan sponsors to expose plan participants to bitcoin.”
They detailed: “Since our previous letter, the digital asset industry has only grown more volatile, tumultuous, and chaotic — all features of an asset class no plan sponsor or person saving for retirement should want to go anywhere near.” The senators continued:
The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems. There are many charismatic wunderkinds and opportunistic scamsters in the industry. Self-proclaimed investment advisors promote financial products with little or no transparency.
Crypto exchange FTX filed for Chapter 11 bankruptcy on Nov. 11. The firm allegedly mishandled customer funds and is currently being investigated by several U.S. authorities, including the Department of Justice (DOJ), the Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC).
“The ill-advised and deceptive actions of a few have a direct effect on the value of bitcoin and other digital assets,” they warned. The full impact of FTX’s damage continues to unfold. However, it is spreading rapidly across the wider digital asset market. .”
Bitcoin is not an exception
” “In light of these risks, and continuous warning signs,” we urge Fidelity Investments again to do what is best — seriously reconsider its decision for plan sponsors to allow bitcoin exposure to plan members,” Johnson was told by the lawmakers.
By many measures, we are already in a retirement security crisis, and it should not be made worse by exposing retirement savings to unnecessary risk. Investment strategies that are based on the idea of catching lightning or driven by fear of missing out are doomed to failure.
Fidelity’s decision to offer bitcoin investments in 401(k) plans has troubled the U.S. Department of Labor. “We have grave concerns with what Fidelity has done,” said Ali Khawar, acting assistant secretary of the Labor Department’s Employee Benefits Security Administration. Treasury Secretary Janet Yellen has also warned that crypto is “very risky,” emphasizing that it is unsuitable for most retirement savers.
Senator Warren already sent a letter to Johnson earlier this year demanding answers about the financial firm’s decision to allow bitcoin exposure in retirement products. In September, a number of U.S. lawmakers introduced a bill called the Retirement Savings Modernization Act to allow “workers to diversify assets” in 401(k) plans.
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Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.
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Bitcoin
$GME ETH Meme Coin: From Disruption to Sustained Value
Meme coins have been instrumental and effective in gaining traction for and within the crypto market recently. By December last year, the meme coin sector was worth more than 11% of the crypto market capitalization, excluding Bitcoin and Ether.
Between Jan 1 and Dec 1 last year, meme coin trading volume grew 979%. It accounted for 5.27% of the entire crypto market’s volume. The data point that is even more telling about the thriving meme coin ecosystem is that approximately 1 million new tokens are created weekly in this space. But do all the coins thrive the same way? The numbers say otherwise.
Coins that Rose and Fell Flat
Dogecoin, one of the most discussed meme coins, fell sharply twice. The coin hit its all-time high in May 2021, when the price reached almost US$0.74. However, the coin failed to sustain its price and currently trades at US$0.15.
The same happened with $TRUMP. Soon after its launch, the token witnessed explosive growth and reached an all-time high of US$75.35. It took only two days for the coin to travel from an all-time low of US$6.24 to an all-time high. However, with the presidential elections over, the enthusiasm around the token largely fizzled out. The token currently trades at a little over US$10.
Nearly the same pattern of fall could be seen in the case of $MELANIA. This meme coin hit its all-time high price of US$13.73 on January 19, 2025. In less than a couple of months’ interval, the price came down to an all-time low of US$0.65.
However, this is not the case for all Meme coins. GME ETH, in particular, is uniquely poised to capture the imminent fresh influx of capital the market is about to witness.
$GME ETH: The Sustained Disruptor
The digital asset space is all set to onboard the largest wave of participants from traditional finance. Bitcoin will likely hit US$100K once again, creating a positive psychological impact for many new investors and skeptics to embrace this asset class. Amid this, $GME ETH is uniquely placed to onboard this group of investors as the Gamestop movement is instantly relatable and familiar to trad-fi participants.
It is possible to buy $GME through conventional avenues using Apple Pay, Google Pay, PayPal, and other trusted payment methods. One can become a $GME owner on more than 35 trusted Centralized Exchange or may get their $GME directly on a Decentralized Exchange, ensuring complete control over your assets and privacy in every transaction.
Inspired by the 2021 stock market short squeeze, GME Ethereum is built on one of the most secure blockchains, Ethereum. It benefits from Ethereum’s robust security, decentralization, and ongoing scalability improvements through Layer 2 solutions.
Over time, the coin has emerged as a community-driven cryptocurrency that embodies resilience, determination, solidarity, and perseverance. It seeks to address challenges that exist in traditional financial markets, including limited information, fewer resources, market manipulation, and high transaction costs.
Altogether, $GME has moved beyond the role of playing a disruptor and emerged as a coin that could offer sustained value and build a loyal ecosystem by offering a lot more than appreciation in prices. It offers educational opportunities, access to a community of investors and traders, a wide wallet distribution, and low gas fees. Overall, it’s a wholesome place for any investor—new or experienced—to thrive!
Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@coincentral.com
Bitcoin
BinoFi (BINO) Rivaling Bitcoin (BTC) as 2025’s Most Talked-About Crypto Investment
While Bitcoin (BTC) has long been the crown jewel of crypto investments, a new contender, BinoFi (BINO), is swiftly gaining traction among industry insiders.
Its cutting-edge hybrid exchange, innovative features, and accelerating adoption have many asking: Could BinoFi rival Bitcoin as the most talked-about cryptocurrency by 2025?
Here’s an in-depth look at what makes BinoFi unique and why it’s capturing the attention of both novice and seasoned investors.
The BinoFi Revolution: What Sets It Apart?
BinoF is a next-generation hybrid exchange designed to combine the best of centralized (CEX) and decentralized exchanges (DEX). This revolutionary approach aims to address long-standing issues in crypto trading, such as inefficiencies in liquidity, slow transactions, and security concerns.
Here’s what makes BinoFi stand out:
- Hybrid Liquidity Model: BinoFi offers the flexibility of tapping into both centralized liquidity pools for speed and decentralized smart contracts for security. This ensures trades are executed at the best possible price with minimal slippage.
- Cross-Chain Trading Without Bridges: Unlike most platforms reliant on wrapped assets or third-party bridges, BinoFi enables direct trading across blockchains. This feature significantly reduces operational risks and improves user confidence.
- AI-Driven Trading Tools: BinoFi introduces AI-powered smart trading bots, market alerts, and automated risk analysis tools that enable users to trade smarter and capitalize on market opportunities.
- Non-Custodial Security: Thanks to its Multi-Party Computation (MPC) wallets, users maintain full control over their assets while enjoying the conveniences of traditional exchanges like gasless transactions and account recovery
- Proof-of-Reserves Transparency: BinoFi uses on-chain proof-of-reserves to ensure liquidity, minimizing risks of insolvency that plague centralized exchanges.
These cutting-edge innovations position BinoFi as a versatile, secure, and user-friendly exchange platform that appeals to both professional traders and everyday users.
Bitcoin’s Legacy vs. BinoFi’s Potential
Bitcoin is undeniably a trailblazer, having introduced blockchain technology and decentralized finance to the mainstream. However, as the market evolves, Bitcoin’s limitations have become evident. Its scalability issues and slow transaction speeds make it hard to compete with modern solutions like BinoFi.
BinoFi is already achieving milestones that bolster its trajectory toward becoming a powerhouse in cryptocurrency. Its listing on CoinMarketCap marks its arrival on the global stage.
BinoFi’s fast-moving presale has made headlines with an extraordinary level of participation. Early backers are increasingly optimistic, and analysts believe the token could surpass the $1 mark by mid-2025, offering early investors life-changing returns.
Bitcoin’s strength lies in its community, but BinoFi is forging its own robust following. From its $1 million giveaway to its gamified trading system, BinoFi is building an ecosystem driven by engagement and innovation.
Features such as Trade-to-Earn and social trading further enhance its appeal, catering to a new wave of crypto enthusiasts.
Crypto analysts are increasingly bullish on BinoFi. A well-known industry expert highlighted, “BinoFi’s hybrid model is not just innovative; it’s a game-changer. By balancing speed, security, and transparency, it addresses fundamental flaws in current crypto exchanges. Its potential to scale and attract institutional adoption is immense.”
Could BinoFi Be Your Golden Opportunity?
With growing market traction and innovative technology, BinoFi represents a fresh perspective on crypto trading. While Bitcoin paved the way for decentralized finance, BinoFi is arguably the next step in its evolution. Whether you’re an investor who missed Bitcoin’s early days or someone looking to diversify, BINO offers a compelling case.
The cryptocurrency market is no stranger to swift transformations, and those who act early often reap the greatest rewards. The buzz surrounding BinoFi’s presale, expert predictions, and $1 million giveaway are not just hype but signals for a future ready to disrupt the crypto world.
Conclusion
BinoFi is more than just a cryptocurrency; it’s a movement redefining how assets are traded and managed. Its hybrid model and innovative technology could make it the centerpiece of the next generation of blockchain solutions.
For those seeking a high-potential investment opportunity, BinoFi offers an exciting chance to be part of what could become 2025’s most talked-about crypto investment.
Website: https://binofi.com
Whitepaper: https://whitepaper.binofi.com
Giveaway: https://giveaway.binofi.com
Telegram: https://t.me/binofilabs
Twitter: https://x.com/Binoficom
CoinMarketCap: https://coinmarketcap.com/currencies/binofi/
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
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