Joint Center Quoted in The American Prospect on Crypto Impacting Black Americans

Joint Center Senior Researcher Cantrell Dumas was quoted in The American Prospect in an article discussing corporate money shaping primary elections and influencing upcoming crypto regulation in Congress. Dumas discusses how cryptocurrency is not an ideal avenue for Black Americans.

From the article: “But crypto isn’t exactly an ideal avenue to ensure financial inclusion for Black Americans. ‘Crypto’s appeal is understandable because many Black households have faced exclusion, discrimination in the traditional financial space, but crypto does not solve those underlying issues,’ says Cantrell Dumas, senior researcher for financial regulation and policy at the Joint Center for Political and Economic Studies. ‘Crypto is extremely volatile and speculative, and it matters because Black households on average have less inherited wealth, fewer liquid savings, and less margin to absorb those losses. A risky asset like crypto or Bitcoin can deepen that inequality.'”

Click here to read the article.