butterscotch is the only media outlet exclusively covering news about inclusion in Web3, DeFi, crypto. CHEWS is our inaugural, weekly newsfeed, providing timely policy updates, industry trends, market research.      

www.butterscotch.media

"Supporting a regulatory framework for cryptocurrency and other digital assets so Black men who invest in and own these assets are protected." - Source: Harris plan

"Enabling Black men who hold digital assets to benefit from financial innovation. More than 20% of Black Americans own or have owned cryptocurrency assets. Vice President Harris appreciates the ways in which new technologies can broaden access to banking and financial services. She will make sure owners of and investors in digital assets benefit from a regulatory framework so that Black men and others who participate in this market are protected." - Source: Harris-Walz statement

"It is perplexing that the Harris-Walz policy team opted not to meet with diverse leaders in crypto, but instead is rolling out a policy that narrowly frames crypto around Black men only and proposes a regulatory framework limiting Black men to consumers instead of producers," Cleve Mesidor said in a statement to The Block.

We need more data and research. Core to the ethos of crypto is building an open financial system for everyone. The data collected to date does not yet provide a complete picture of the sector. Yes, data shows that communities of color are the earliest and largest holders of cryptocurrencies. But we do not have sufficient demographical info regarding the diverse founders, entrepreneurs, creators, builders that are fueling the $2 trillion market. After working in the space for over six years, I know women have a deep bench in Web3 and DeFi. 

Sadly, the limited data we have is being weaponized to advance agendas and to divide. Black men are an important segment of crypto, just as women of color and diverse industry leaders are critical to the vibrant and dynamic ecosystem.

As I have shared, crypto is a bipartisan issue. It is also racially diverse and gender inclusive.

Black, Latino, Indigenous, AAPI innovators helped to build this transformative space. I'm calling for more research to better understand the emerging industry so that policymaking and rulemaking can be better informed.  

The average cryptocurrency trader is under 40 (mean age is 38) and does not have a college degree (55 percent). Two-fifths of crypto traders are not white (44 percent), and 41 percent are women. [Read]

About 2 in 5 Black adults say they are likely to purchase or invest in Bitcoin, compared to roughly 3 in 10 adults overall. [Read]

One-quarter of Black Americans (25%) currently own cryptocurrency, and among Black investors under 40, that figure jumps to 38%. This is compared to only 15% of white investors who own cryptocurrency, and 29% of white investors under 40. [Read]

Among the 16% of Americans who say they have ever invested in, traded or used a cryptocurrency, about three-quarters say that a major or minor reason is that they want a different way to invest (78%) or that it is a good way to make money (75%). Some 54% say at least a minor reason is that they think crypto is easier to get into than other ways to invest. Smaller shares cite being more confident in cryptocurrencies than other investments (39%) and wanting to be part of a community (33%) as at least a minor reason for investing. [Read]

Have News To Share?

Send tips to cleve@butterscotch.media

butterscotch is a digital news studio broadcasting stories about Black, Latino, Indigenous DeFi retail investors, Web3 consumers, founders, executives, officials. The virtual newsroom - featuring eNews, Podcast, Live Events – seeks to deepen mainstream understanding of diverse segments of the emerging $2 trillion crypto industry.

Cleve Mesidor, CEO & Managing Editor

Ashlynn Mesidor, CTO & Co-Founder