The firm will dismiss about 2.5% of its global workforce after grappling with sharp declines last year in equity and bond markets.
The funding fight could be bargaining chip at the center of upcoming debates over raising the debt ceiling and funding the federal government.
Litquidity, which has more than a million followers on Twitter and Instagram, is hoping to help connect its followers with jobs at private equity firms, hedge funds and other alternative asset managers.
After completing a merger last week with Alvarium Investments through a blank-check company, the former banker is eyeing further deals.
The executive, who was once considered a potential CEO candidate, is leaving after a 28-year run.
The proposal would bar employers from entering into or enforcing such clauses and require companies to nullify any existing ones within six months.
The push to interest retirement savers in crypto was part of an effort by FTX Group to expand its base of everyday retail customers.
The firm is required to pay a $50 million fine and spend $50 million to improve compliance over two years.
Public-employee plans are underfunded, chasing higher returns and underperforming international peers overseen by professionals.
State legislation requires state entities to divest from firms on the list, with certain exceptions.
