Black investors hit harder by crypto market slowdown
The last year has been tough for cryptocurrencies, between the parade of scandals and the sinking valuations. There’s evidence that Black investors may be getting hit especially hard.
“Marketplace” host and senior correspondent Kimberly Adams has been looking into this. She’s observed that crypto markets have disproportionately drawn in Black investors in recent years.
According to the 2022 Ariel-Schwab Black Investor Survey, a quarter of Black Americans owned crypto last year, compared to 15% of white investors.
This feature originally aired on “Marketplace” on Feb. 3.
Related links: More insight from Meghan McCarty Carino
Kimberly noted the amount of crypto marketing specifically targeting Black consumers with ads featuring LeBron James and Spike Lee.
Here on “Marketplace Tech,” we recently took a look back at some of the ads from the 2022 Super Bowl, noting how the companies behind them are faring now and reflecting on that moment with the benefit of hindsight.
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