Houston Firefighters pension becomes first US public pension to buy crypto

The Houston Firefighters' Relief and Retirement Fund put $25 million into Bitcoin and Ether, becoming the first US public pension plan to directly hold crypto. With $4 billion under management and a CIO calling crypto "another tool to manage my risk," the move broke a long-standing taboo for conservative retirement allocators. The 2022 market downturn would later test that conviction.