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Crypto collapse reverberates widely among black American investors

Financial Times LogoFinancial Times1 mo ago

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: ft.com

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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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 16 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9h ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #3

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