But crypto’s meltdown over the past year has dealt a blow to that narrative, fueling a debate between those who continue to believe in its future and skeptics who say misleading advertising and celebrity-fueled hype have drawn vulnerable people to a risky and unproven asset class. But he still promotes it to the Black community and would like to get back in himself.Ī recent college graduate and a single mom are dabbling hopefully in bitcoin after attending a crypto workshop sponsored by rapper Jay-Z at the public housing complex where the hip-hop star grew up.īut a former executive at a cryptocurrency exchange feels disillusioned by the false promise of crypto helping her family in Ethiopia’s war-torn Tigray region.Īll were drawn by the idea of crypto as a pathway to wealth-building outside of traditional financial systems with a long history of racial discrimination and indifference to the needs of low-income communities.
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