August 07, 2025

Statement by Senator Warren on President Trump's Executive Order Opening Up Americans' 401(k)s to Risky Assets

Washington, DC – U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, released the following statement on President Trump’s executive order that exposes Americans’ 401(k)s and other retirement plans to private assets and cryptocurrencies:

“President Trump just granted private equity billionaires their biggest wish: access to Americans’ retirement savings. But it’s a rotten deal: the data shows private equity has failed to deliver the returns it has promised while saddling investors with exorbitant fees. Trump’s executive order will expose Americans’ retirement savings to risky investments with little transparency and weak protections—as well as to highly volatile crypto assets. It’s just another Trump giveaway to the billionaires on the backs of working people.”

##