Donald Trump has signed an executive order that could transform the way Americans save for retirement. The measure will, for the first time, allow 401(k) plans, America’s dominant workplace retirement vehicle, to invest in cryptocurrencies, private equity and other alternative assets. It is an audacious shift for a market worth $9trn and used by over 90m American workers. For decades, retirement savings in America have been steered almost exclusively into equities and bonds. Entire categories of high-growth assets, from Bitcoin to venture capital, have been kept at bay by regulatory design. Trump’s order instructs ... (full story)