Post-Consensus Message

It has been quite a year for digital assets, with intense interest and scrutiny from consumers, media, regulators, and legislators alike. While the debate about crypto’s future continues, Fidelity’s position is clear — we have a contrarian perspective and have the financial strength and long-term patience to persist when others hesitate. So, despite the crypto market pullback, we are not pulling back on Fidelity’s commitment to digital assets. Fidelity continues to hire thousands to support cryptocurrency and other areas of customer interest. If you’re interested in helping us as we grow our business, we want to talk to you.

I recently attended and spoke at Consensus 2022, an annual conference on crypto and blockchain, where the energy was palpable, with so many great minds focused on shaping the crypto industry’s future. While interest in cryptocurrencies continues to grow among individual and institutional investors, we are still learning and working through the complexities that come with developing and launching these innovative products. One in four households now interact with digital assets, and growth is greatest among young investors, with 39% of Gen Z and 38% of Millennials actively engaged in the digital assets’ ecosystem.¹

Fidelity is committed to advancing the digital assets industry in a way that protects consumers, while also giving customers a variety of investment choices. As we do across all our businesses, we are not focused on short-term gains or current trends. For decades, we have used a “scan, try, scale” approach to research and launch emerging businesses. We “scan” for customer interest, “try” with small pilots, and then “scale” those ideas that are helping customers plan for and manage their financial well-being. In our work with crypto, we have made many “tries,” which eventually led to several successful ventures. We’ll continue to make investments in new businesses and emerging technologies, and measure success not over weeks or months, but in the years and decades ahead.

Abigail P. Johnson
Chairman and CEO

¹https://today.yougov.com/topics/technology/articles-reports/2022/04/27/how-do-americans-feel-about-emerging-technologies.

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Digital assets are speculative and highly volatile, can become illiquid at any time, and are for investors with a high-risk tolerance. Investors in digital assets could lose the entire value of their investment.

Custody and trading of digital assets are provided by Fidelity Digital Asset Services, LLC, a New York State-chartered limited liability trust company (NMLS ID 1773897). Digital assets are not subject to the protections afforded by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation (“SIPC”).

Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS FDC nor NFS offer digital assets nor provide trading or custody services for such assets

Fidelity Brokerage Services LLC, Member NYSE, SIPC 900 Salem Street, Smithfield, RI 02917

Fidelity Distributors Company LLC, 500 Salem Street, Smithfield, RI 02917

National Financial Services LLC, Member NYSE, SIPC, 245 Summer Street, Boston, MA 02110

The time to double down on digital assets