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Into America

Is Black Crypto Freedom? Or Fad?

Into America

Trymaine Lee, MS NOW

Black Lives Matter, Covid-19, Policy, Documentary, Justice, Health, Society & Culture, Breonna Taylor, Trymaine Lee, Politics, George Floyd, Msnbc, Government, Cultural, History, News, Ms Now, News Commentary, Social, Blm, Versant, Culture, Society

4.63.4K Ratings

🗓️ 14 April 2022

⏱️ 39 minutes

🧾️ Download transcript

Summary

Advocates for cryptocurrency say it can help close the racial wealth gap. But others aren’t so sure.

Transcript

Click on a timestamp to play from that location

0:00.0

I'm just excited about being here. Why are we celebrating and talking about cryptocurrency

0:12.1

in the Black and Brown community?

0:15.2

Last week there was a small rally on Capitol Hill to raise awareness among the Black and Latino

0:19.9

community about the power of cryptocurrency.

0:23.6

It is time out for the same thing we've been doing the last 157 years.

0:28.2

We have got to do something different or we're going to get and continue to get what

0:32.4

we've always gotten.

0:34.8

Speakers at the Rally talked about the potential this new technology could have on the communities

0:40.2

that have long been kept out of traditional banking, investing and wealth accumulation.

0:45.4

And the reason I am so passionate about this is because if we don't do it nobody is coming

0:50.7

to save us and we've got to understand that it is time to get self-sauvering.

0:55.6

It is time for us to take our finances into our own hands.

1:00.0

These activists represent a sizeable part of the crypto community.

1:04.0

The data show that Black and Latino Americans have invested in these digital currencies at

1:08.8

higher rates than other groups.

1:11.0

Almost a quarter of all Black adults say they already own some cryptocurrency compared

1:16.2

to just 11% of White Americans according to a Harris poll that surveyed 2,000 people

1:21.4

last year.

1:23.1

At its most basic level, cryptocurrency is a digital currency.

1:27.3

It's money that lives completely online, but crypto lacks much of the regulation and control

1:32.9

from banks or governments.

1:35.4

Institutions that we normally associate with our money.

...

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