Crypto collapse reverberates widely among black American investors

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Crypto collapse reverberates widely among black American investors

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Prominent black Americans including the musicians Jay-Z and Snoop Dogg, the boxer Floyd Mayweather, the actor Jamie Foxx and the film-maker Spike Lee have promoted crypto to their communities.

Last month, Jay-Z announced a partnership with former Twitter chief executive Jack Dorsey to launch a “Bitcoin Academy” literacy programme in the Brooklyn public housing complex where he grew up.

Black Americans’ higher exposure to cryptocurrencies has left them more vulnerable to the financial downturn, even as their households on average hold less wealth.

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Article Details

Author / Journalist: Taylor Nicole Rogers

Category: MarketsFinanceInvesting

Topics: Cent Investors Financial Investments Cryptocurrencies Last Black Crypto Americans

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-07-05, 04:00:26

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 6 minutes read

Article Length: 966 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 30421

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