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    Michael Hiltzik: Thinking of putting crypto in your 401(k)? Think twice

    The federal government has some advice for workers contemplating adding bitcoin or another cryptocurrency to their retirement holdings: Don't. The advice is not exactly new. The Department of Labor, which oversees employer-sponsored retirement offerings such as 401(k) plans, first warned plan sponsors in March to "exercise extreme care" before opening those plans to cryptocurrency investments. ...
    by Michael Hiltzik, Los Angeles Times Nov 23, 2022 6 minutes

    The federal government has some advice for workers contemplating adding bitcoin or another cryptocurrency to their retirement holdings: Don't.

    The advice is not exactly new. The Department of Labor, which oversees employer-sponsored retirement offerings such as 401(k) plans, first warned plan sponsors in March to "exercise extreme care" before opening those plans to cryptocurrency investments.

    "These investments present significant risks and challenges to participants' retirement accounts, including significant risks of fraud, theft and loss," the agency said.

    Since then, the hazards for investors in the cryptocurrency markets have only become more evident.

    They've been underscored by the collapse earlier this month of FTX, a leading crypto exchange whose founder, Sam Bankman-Fried, had become the fresh-faced spokesman for the security of those markets and their potential to generate investment gains.

    FTX filed for bankruptcy protection on Nov. 11, amid allegations of financial wrongdoing and . It was the second major player to file for bankruptcy in four months, following that

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