401k into crypto? Sanders and Warren directly clash, using Trump's meme coin crash as a harsh example

CoinWorld News reports that, according to The Guardian, Democratic lawmakers in the United States oppose the Department of Labor's proposal to allow 401(k) retirement plans to invest in assets such as cryptocurrencies, private credit, and private equity. Senators Bernie Sanders, Elizabeth Warren, and Representative Bobby Scott stated in a joint letter that this rule could expose approximately $14.2 trillion in retirement savings to more complex, higher-risk, and higher-fee assets, and could weaken long-term returns. The letter also cites the example of the Trump meme token, which surged to over $75 per token in January 2025 and has now fallen to about $2, illustrating the extreme volatility of high-risk assets.