Professor Tonya M. Evans, a highly respected scholar of fintech law at Penn State Dickinson Law and a prominent figure in digital asset strategy, says cryptocurrency can payoff for Black investors – but they must know the risks.
Evans, owner of Advantage Evans, LLC, and a board member of Digital Currency Group, is “deeply invested” in guiding Black investors through the complex world of cryptocurrency.
She was recently interviewed for a Forbes article, “Can the Crypto Industry Survive Trump’s Agenda 47 and Project 2025?”
She highlighted the friction between the government’s regulatory initiatives, prioritizing national sovereignty, and the decentralized ideals at the heart of digital currencies like Bitcoin.
Evans encouraged Black investors to pursue a clear understanding of cryptocurrency, noting that education is key.
“There are several trusted resources available to help investors learn more about crypto risks and rewards,” she advised.
“Thorough research and skepticism toward ‘get rich quick’ schemes are vital for protection against scams.”
Evans notes that the potential for cryptocurrency to bridge the racial wealth gap remains a key topic among Black investors. There are low entry barriers and crypto promises accessibility – but there is no “serious” consumer protection, says Evans, and it remains “fraught with risk.”
Evans emphasized the need for Black investors to adopt strategies for minimizing losses amid volatility, advising the establishment of backup plans to protect investments.
For Black families, staying informed about new regulations is essential, as crypto’s largely unregulated market can make it challenging to avoid financial pitfalls.
“Cryptocurrency was marketed as a tool for financial freedom for Black Americans—a way to bypass banks, build wealth, and close the racial wealth gap,” Evans noted.
However, after the 2022 market crash, that promise faded for many. While Bitcoin remains a significant player, a lack of solid consumer safeguards leaves Black investors vulnerable to yet another risk cycle.
Political dynamics further complicate this landscape. With the influence of crypto-backed super PACs in the 2024 election, millions have been funneled to maintain light regulations. Evans observed that crypto’s sway in Washington benefits those who can bear financial risk, underscoring the uneven playing field that often excludes marginalized communities.
As Donald Trump prepares to re-enter the presidency, he does so after pivoting from denouncing cryptocurrency as a “scam” to launching his own platform, World Liberty Financial (WLFI.)
Critics argue that Trump’s venture into crypto could be less about financial innovation and more about political and personal gain, especially as he positions WLFI as a groundbreaking platform despite the involvement of controversial figures.
Evans, whose says her mission is to empower Black communities to build wealth in the digital economy, emphasized the importance of consumer education and vigilance, advising Black investors to approach crypto with a balance of optimism and caution.
With a GOP-led administration and a conservative Supreme Court, the regulatory landscape may shift, and Black investors must stay informed to safeguard their financial futures.
Through her weekly podcast, Tech Intersect, Evans provides the Black community with knowledge on the crypto industry.
“[I’m] committed to ensuring that Black families are prepared to navigate this evolving landscape, building generational wealth with knowledge and care,” she said.
“Crypto offers immense possibilities for building wealth, but without clear protections, it also carries real risks. Our power lies in knowledge—by understanding the landscape, we can make informed choices that truly serve us, now and in the future.”