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NC Retirement Fund Faces $33M Crypto Loss Amid Criticism

2/13/2026

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Summary

Story summary

North Carolina's Retirement Systems began investing in cryptocurrency in late 2025, despite state employee opposition.
Since then, crypto losses reached over $33 million, with the Strategy fund dropping from $51 million to $18 million.
State Treasurer Brad Briner remains optimistic, citing long-term strategies despite volatility.
Critics, including state employee advocate Ardis Watkins, argue pensions should prioritize stable investments.

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Story summary

North Carolina's Retirement Systems began investing in cryptocurrency in late 2025, despite state employee opposition.
Since then, crypto losses reached over $33 million, with the Strategy fund dropping from $51 million to $18 million.
State Treasurer Brad Briner remains optimistic, citing long-term strategies despite volatility.
Critics, including state employee advocate Ardis Watkins, argue pensions should prioritize stable investments.