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From the washington post who can put all of this crypto stuff into plain english. sylvia foster frau, and natasha t.q. one in six say they have invested in, traded in or otherwise used cryptocurrency with black, latino, and asian american investors outpacing our white counter parts. just this week, lebron james announced that he was getting into the crypto game as part of a financial literacy program for his school that he has in akron, ohio. why are people of color disproportionately investing in crypto? yeah, tiffany, thank you so much for having me on, and i m glad you asked that question because there s a lot of focus on celebrities and politicians who either have money to spare or maybe have their own incentives, right, for wanting to bring cryptocurrency companies into their communities, but what we re seeing is that a lot of folks, especially people of color, are ....
Drawn to it because they ve experienced being locked out of the traditional financial system, right, we ve seen that in history when it comes to red lining and other practices, and we know that it still happens in present day, and so folks that i spoke to are viewing cryptocurrency as a possible way to find a space where those biases possibly don t exist because it is so new, and because there s like a way to reimagine it differently, and so they re thinking, maybe this is a way that i can gain generational wealth, that i can gain more of a profit in a way that i haven t in the traditional financial structure. it still goes back to the wealth gap essentially. natasha, i want to talk a bit about odell beckham jr. and other stars like him. i imagine he s not the only one. i don t understand enough about it, about crypto, about how this crash cost him a grip, i mean, he lost a chunk of money there. is beckham s deal like we did in the open is less than half. ....
Lot of people are pointing out different cryptocurrencies, such as ethereum, they are switching to a model called proof of stake, that is less energy intensive, so i think we can see there that that is a criticism of cryptocurrency that really resonates with young people and with regulators. so the industry is trying to transition. however, bitcoin is still the most popular cryptocurrency and it uses this energy intensive process, so, you know, i don t think it s a debate that s dying down anytime soon. this is quite fascinating. i wonder where these conversations will be ten years from now. we ll have to keep having them. thank you so much, sylvia foster, and natasha, great addition to the cross connection family. a frank conversation about mental health and how to reach out to your loved ones. we ll discuss that right after the break. your loved ones we ll discuss that right after the break. ....
New york. yeah. who have also taken a bit of a hit, eric adams got about a thousand dollars less in his paycheck, $6,000 a week, because he decided to put it in bitcoin and ethereum, a popular cryptocurrency. like you mentioned miami as well, mayor there. frances suarez, i want to get into that, sylvia. is there a conflict here with lawmakers saying, hey, i ll convert some of my earnings into crypto, and it s interesting that these are two mayors of color, again, proving your point about multiculturalism in this business. and i want to be clear, i mean, the mayor, eric adams said he used coin base to convert funds from his paycheck, as natasha just pointed out. it s not like they re necessarily an advocate for ....