Research: Black Americans are one of the groups most affected by the cryptocurrency crash

ChainCatcher news, according to a study by Charles Schwab earlier this year cited by CNN, found that Black Americans are more likely to invest in cryptocurrency than White Americans, and Black Americans are one of the groups most severely affected by the cryptocurrency crash.

The research indicates that Black Americans are far less likely to invest in stocks compared to White Americans, and cryptocurrency appears to provide an attractive alternative for them. Due to a lack of generational wealth, this group of investors is particularly vulnerable to the sharp fluctuations in cryptocurrency values. According to a 2021 survey by the University of Chicago's NORC, nearly 44% of Americans who hold and trade cryptocurrency are people of color. (source link)