(CNN)Samson Williams was working in the mortgage lending industry in 2014 when a colleague convinced him to invest in cryptocurrency.
At the time, Williams didn't know much about cryptocurrency but decided to invest a little more than $200 to see where it would get him.
"No one knew what it was," Williams said. "But it was going to change the world. So I was drinking a lot of crypto Kool-Aid."
Cryptocurrency -- decentralized digital money backed by bitcoin and ethereum -- would gain momentum among Black investors in the years to come. As the hype grew, Williams cashed out in 2020 and bought his mom a house. He had learned enough about cryptocurrency to know it was time to get out.
"I was done gambling," said Williams, now an adjunct law professor at the University of New Hampshire.
Despite his earnings, Williams worries that experienced investors are promoting cryptocurrency to Black Americans as the key to financial inclusion and closing the wealth gap without fully explaining the...
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