BREAKING: The Labor Department has withdrawn guidance that discourages bosses from offering crypto in workers’ 401k plans. The Trump family, and much of the administration, is heavily invested in crypto. The crypto industry also spent about $238 million on the 2024 elections. - ThreadSky

moreperfectunion.bsky.social • 2 days ago

BREAKING: The Labor Department has withdrawn guidance that discourages bosses from offering crypto in workers’ 401k plans.

The Trump family, and much of the administration, is heavily invested in crypto.

The crypto industry also spent about $238 million on the 2024 elections.

Comments

redrowan.bsky.social•2 days ago

Ok kids - if your new employer offers to pay you by putting crypto into your 401k,… well Starbucks may still be hiring.

letmethrow.bsky.social•2 days ago

Work your ass off for 40 years in this country and you might get some scam digital “currency”instead of a pension, home, or a future for your family.

harleytheequinn.bsky.social•2 days ago

Oh great. Next they’ll allow employers to offer nothing but crypto. You want a retirement plan? Here you go. No, sorry, you can’t have real money or securities. Crypto or nothing, pal.

mlk-nside67.bsky.social•2 days ago

HOPE SHIP SINKS. PYRAMID LOOKS.

brooklyn909.bsky.social•2 days ago

It's a Mafia State.

james-kaber-00.bsky.social•2 days ago

401k plans are supposed to be for retirement, not gambling with volatile fake currency that crashes every other weekend

petczar.bsky.social•2 days ago

💯

hansellsohot.bsky.social•2 days ago

And when the crypto market tanks or they start charging exorbitant fees to “maintain” it, everyone will say “I didn’t know…”

jasonemry.bsky.social•2 days ago

elmo: social security is a ponzi scheme

trump: *crypto*

leemillar.bsky.social•2 days ago

So your retirement fund is no longer a real thing and it will be worthless.
USA! USA! USA! ……..

feefer2.bsky.social•2 days ago

I’m old enough to remember when DT said he was an isolationist who’d put US 1st, incl. foreign Nations who threatened $ as the #1 reserve currency in the World.

Now he doesn’t care about any of that by embracing crypto, the fave method of global criminals to transfer funds to avoid detection.

aaronjlast.bsky.social•2 days ago

My investment, my choice. The Federal government should not have a say in how I invest my own money.

unhipcat.bsky.social•2 days ago

Trump will try to make trump crypto the official form of payment for government salaries, government contracts, retirement checks, social security, you name it…. we’ll get paid in trump-manipulated crypto.

aaronjlast.bsky.social•2 days ago

Ironic considering it's the liberals who are trying to force us to invest in products they approve of (stocks controlled by billionares) and outlaw ones they dont (crypto).

scutterbotch.bsky.social•2 days ago

Whataboutism at its finest

aaronjlast.bsky.social•2 days ago

Huh? I'm staying on the topic of governments power to control what we invest in. The dude bringing up Trump unprovoked is the whataboutism.

scutterbotch.bsky.social•2 days ago

You gave no conclusive argument except to say “well the liberals do it but with stocks” which is a perfect example of whataboutism. Tell you what, Ill throw you a bone, why do you think cryptocoins are a better alternative to stocks?

aaronjlast.bsky.social•2 days ago

"liberals do it" - yes that is the topic of the original post.

I'm not saying any investments are better than others. Any opinion on that would never justify the government outlawing that investment.

Nice red herring though.

petczar.bsky.social•2 days ago

🎯

jaydeedouble.bsky.social•2 days ago

Mark Cuban is rejoicing… for some reason

mostlybenignalien.bsky.social•2 days ago

What a crazy coincidence /s

budds-best.bsky.social•2 days ago

Do not offer me video game points in exchange for my actual real labor. Fiat currency is bad enough, but it will get me food for me & my cats. Imagine looking at your 401k statement & seeing PacMan points.

lavawings.bsky.social•2 days ago

Exploring every avenue of criminality at the expense of the country. This is what Americans want.

enemyfromwithin.bsky.social•2 days ago

And people are that stupid.

gabeburgess.bsky.social•2 days ago

I pity MFs that fall for this scam.

akajuhlz.bsky.social•2 days ago

How much of the 238 mil went to the Trump campaign?

ken-kenny-kenneth.bsky.social•2 days ago

Future interview question you’ll need to ask - Is your 401-k invested inn crypto or traditional investments?

zings247.bsky.social•2 days ago

Crypto is a scam! Never invest a dime into it.

langsam-karen.bsky.social•2 days ago

Trump and family make $ from every single transaction, buying or selling. Use crypto and they get richer.

asteraceaeg.bsky.social•2 days ago

In other words - theft.
That money will be gone come retirement.

darkhorse9.bsky.social•2 days ago

Oh I can't wait for that scam to catch up with them.

myherozero.bsky.social•2 days ago

Hey, maybe this will destroy 401ks and bring back pensions when a large swath of people can't retire because billionaires pump and dumped them

hopeyy84.bsky.social•2 days ago

NO CRYPTO

stingleword.bsky.social•2 days ago

Crypto was created to hide criminal financial activity, and every "application" it has involves some sort of financial crime - be it fraud, theft, or just plain ol' scamming. It has no intrinsic value and no superior utility over existing banking tech - that is, unless you're doing financial crime.

noreligion4me.bsky.social•2 days ago

ivorie-dog.bsky.social•2 days ago

This is very bad for the every day worker. Crypto is a Ponzi scheme and someone’s gonna pay while they get rich.

jayhill74.bsky.social•1 day ago

It's all part of the plan. You'll be forced to work until you drop dead since you won't have a retirement fund. But your job will fire you, which means you'll end up homeless, then arrested and imprisoned in a for profit prison, and then forced to do manual labor for the rest of your days.

nlanc.bsky.social•2 days ago

And has, in those elections and since, bought significant chunks of the Democratic party. This includes Sen. Mark Warner, who should not be encouraged to seek a third term (as he is doing). We need representatives who aren't flagrantly corrupt.

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