Latest news with #StuartAlderoty
Yahoo
9 hours ago
- Business
- Yahoo
Almost Half of Americans Want Crypto—But 90% Say They Just Don't Get It
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. As more institutions and even the government have embraced cryptocurrencies in the past year, an emerging trope is that the asset class has entered its 'mainstream era.' But for many ordinary Americans, it all remains a very niche subject, according to a recent survey commissioned by the National Cryptocurrency Association. The study released on Tuesday by the NCA, a nonprofit focused on cryptocurrency consumer education, found that most did not know the first thing about the asset class beyond knowledge of its existence. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Almost 90% of respondents to the survey, which sampled 2,000 non-cryptocurrency holders across different demographics online, said they do not know how to trade or use crypto. Some 49% cited this lack of understanding of how the asset worked as the biggest obstacle to adoption. In addition to this lack of understanding of how cryptocurrencies worked, 43% cited security and fraud as major concerns. Thirty-six percent said they did not trust cryptocurrency platforms and exchanges. Another 41% expressed confusion around the 'backing' of cryptocurrencies. 'It just seems questionable,' one respondent reportedly said. Only a small group of respondents, 18%, said they are likely to acquire cryptocurrencies this year. Trending: New to crypto? on Coinbase. But the findings were not all bleak. Despite the disclosed hurdles, fears and concerns, roughly a third of respondents said they have considered using cryptocurrencies and are open to learning more about them if the information is simplified and tied to tangible benefits. In this cohort, 50% worry that it is already too late to gain cryptocurrency exposure. A lot of them, 68%, are also not sure where to start. But most of them, 80%, see cryptocurrencies as a legitimate asset class. And 42% are likely to use or purchase cryptocurrencies this year. 'Crypto's biggest barrier is comprehension,' NCA President Stuart Alderoty said in a statement. 'For most Americans, crypto still feels confusing. Nearly one-quarter of non-holders said they would use crypto if they could pay for goods and services with digital assets, but they already can do these things (and more) – they just don't realize it. This is a call to action that we must demystify the technology and build trust through education, which is our mission at the NCA.'For its part, the NCA has launched an educational video series to offer clear answers to long-standing questions and bust persistent myths. At least 11 videos have been released in the series, putting the spotlight on the stories of everyday American cryptocurrency users. While on one hand, the recent NCA report paints a damning picture of the cryptocurrency industry's accessibility, it perhaps also validates the frequent assertions by many in the industry that 'it's still early' despite being a $3.8 trillion market and Bitcoin trading around $120,000 per coin. Read Next: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— Image: Shutterstock This article Almost Half of Americans Want Crypto—But 90% Say They Just Don't Get It originally appeared on Sign in to access your portfolio
Business Wire
22-07-2025
- Business
- Business Wire
New Report Reveals Lack of Understanding is Holding Back Wider U.S. Crypto Adoption
MIAMI--(BUSINESS WIRE)--Today, the National Cryptocurrency Association (NCA), a nonprofit organization dedicated to helping Americans understand and use crypto with confidence, released insights from a Harris Poll survey of Americans who do not hold any crypto. The 2025 Crypto Confidence Pulse showed that despite its growing visibility, lack of understanding is the primary reason that four out of five U.S. adults do not yet hold any crypto. NCA had previously conducted the largest ever survey of Americans that do hold crypto and found that the majority of them believe that crypto has had a positive impact on their lives. This latest survey finds that those who have yet to dip their toes into crypto are hesitant for a variety of reasons: Nearly 90% said they are not knowledgeable about buying, using, selling or trading crypto and almost half (49%) cited lack of understanding of how crypto works as the biggest barrier to entry Trust is another blocker: 43% are concerned about security and fraud with 36% lacking trust in crypto platforms and exchanges There's also confusion around crypto's core feature, namely that it has no central actor: 41% say they don't know who or what is 'backing' crypto assets Overall, only 18% say they are likely to acquire crypto in 2025 "Crypto's biggest barrier is comprehension,' said Stuart Alderoty, President of the NCA. 'For most Americans, crypto still feels confusing. Nearly one-quarter of non-holders said they would use crypto if they could pay for goods and services with digital assets, but they already can do these things (and more) – they just don't realize it. This is a call to action that we must demystify the technology and build trust through education, which is our mission at the NCA.' The report identifies five distinct personas among non-holders, from Curious and Cautious to Trendwatchers, Traditionalists and Skeptics. While each group varies in demographics and motivation, common themes emerge: unfamiliarity, fear of scams, and a perceived lack of practical use cases: Fewer than one in five see crypto as a secure or good long-term investment Over half of respondents find researching crypto 'overwhelming' Only 14% have ever discussed crypto with family or friends – but those who did are more open to using crypto Despite increased visibility, literacy around crypto fundamentals remains limited. While only 14% of non-holders believe crypto is a scam and just 10% see it as a passing fad, misperceptions about fraud, hacking, and not knowing who or what is 'backing' crypto assets continue to shape public perception. In reality, just 3% of holders reported negative experiences with crypto, and of these, less than a third had experienced fraud or security breaches personally – that's less than 1%. To respond to these concerns, the NCA is launching a new video series to provide clear, fact-based answers to common crypto questions and myths. These resources are part of the organization's broader effort to increase understanding and build confidence through accessible, trustworthy information. As for reaching non-holders, opportunity exists. Nearly one in three have considered using crypto, and 34% are interested in learning more, especially if information is simplified and tied to tangible benefits. When looking at those interested in learning more, we heard that: While the industry is still fairly nascent, one in two worry they may have missed the boat on crypto Despite this, 68% are curious about using crypto but are not sure where to start The majority (80%) see crypto as a legitimate financial asset Almost half (42%) of this cohort are likely to acquire or use crypto in 2025 About the National Cryptocurrency Association The National Cryptocurrency Association (NCA) is a 501(C)(4) organization dedicated to educating consumers about how to engage with crypto. Crypto is positively impacting the lives of millions of Americans but misinformation has held back those who stand to benefit. The NCA is here to help people make sense of crypto by sharing the stories of real people and businesses using crypto, providing educational resources to navigate the hype and confusion, and offering guidance and support through partnerships and services. Methodology The research was conducted online in the United States by The Harris Poll on behalf of The National Cryptocurrency Association among 2,000 non-cryptocurrency holders. The survey was conducted May 22, 2025 through May 30, 2025. Data are weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, employment, household income, and political party affiliation to bring them in line with their actual proportions in the population. Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within ± 2.9 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest. All sample surveys and polls, whether or not they use probability sampling, are subject to other multiple sources of error which are most often not possible to quantify or estimate, including, but not limited to coverage error, error associated with nonresponse, error associated with question wording and response options, and post-survey weighting and adjustments.
Yahoo
27-06-2025
- Business
- Yahoo
Ripple vs SEC lawsuit hits shocking standstill, XRP dips immediately
Ripple vs SEC lawsuit hits shocking standstill, XRP dips immediately originally appeared on TheStreet. On June 26, Judge Analisa Torres once again denied the joint request filed by the blockchain tech and payments firm Ripple and the Securities and Exchange Commission (SEC) for an indicative ruling. Both the payments company and the federal securities regulator have been seeking an indicative ruling that would have vacated the court judgment passed earlier that issued a permanent injunction against Ripple and imposed a civil penalty of $125 million against it. Ripple's chief legal officer, Stuart Alderoty, responded to the latest ruling on X, "With this, the ball is back in our court... XRP's legal status as not a security remains unchanged. In the meantime, it's business as usual." As reported earlier, the Ripple vs SEC saga began back in December 2020 when the regulator sued the company for selling allegedly unregistered XRP securities worth $1.3 Torres ruled in July 2023 that the company selling XRP tokens to institutional investors violated securities laws, but their sale to retail investors didn't violate any laws. Each side then interpreted the ruling as a partial win. In August 2024, the court's final ruling imposed a civil penalty of more than $125 million against Ripple and directed it to desist from any further violations of securities laws. But then came May 8, 2024, and both parties filed a joint settlement letter, requesting the court for an indicative ruling to dissolve the August 2024 judgment. It essentially asked the court to vacate the injunction against Ripple restricting it from issuing unregistered XRP securities. It also requested the court to lower the penalty from $125 million to $50 million.'The parties do not have the authority to agree not to be bound by a court's final judgment,' the latest ruling said. What it means is that the lawsuit will proceed in the court as per standard procedures and will not be expedited as per the parties' will. As per Kraken, XRP immediately fell 1.5% from $2.15 to $2.12 following the latest ruling. Ripple vs SEC lawsuit hits shocking standstill, XRP dips immediately first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared.
Yahoo
26-06-2025
- Business
- Yahoo
SEC, Ripple wants to settle crypto lawsuit, but US judge rebuffs them
By Jonathan Stempel NEW YORK (Reuters) -A federal judge on Thursday rejected an unusual joint motion by Ripple Labs and the U.S. Securities and Exchange Commission to endorse the cryptocurrency company's reduced $50 million fine to settle a civil lawsuit over the sale of unregistered securities. U.S. District Judge Analisa Torres in Manhattan chastised both sides for claiming that their settlement in March should excuse Ripple from honoring her permanent injunction against violating the law. Ripple's chief legal officer Stuart Alderoty posted on X that the company has not decided its next legal steps. An SEC spokesman had no immediate comment. The case concerned sales of the XRP token, and has been one of the SEC's highest-profile cryptocurrency cases. In July 2023, Torres ruled that while XRP sold by Ripple on public exchanges did not meet the legal definition of a security, $728 million of XRP sales to institutional investors should have complied with securities laws. Ripple and the SEC appealed, but agreed to settle if Torres set aside her injunction and approved lowering the $125 million fine she imposed last August. The SEC has been easing oversight of cryptocurrencies, and the judge agreed it can change course on enforcement cases. Torres said, however, that both sides had "not come close" to showing that exceptional circumstances outweighing the public interest and administration of justice justified the settlement. "The parties do not have the authority to agree not to be bound by a court's final judgment that a party violated an Act of Congress in such a manner that a permanent injunction and a civil penalty were necessary to prevent that party from violating the law again," she wrote. "Accordingly, if jurisdiction were restored to this court, the court would deny the parties' request to vacate the injunction and reduce the civil penalty," she added. Torres said the SEC and Ripple remain free to withdraw their appeals, or appeal her injunction. XRP is the fourth-largest cryptocurrency by market value, trailing bitcoin, Ethereum and Tether, the market service CoinMarketCap said on Thursday. Since Donald Trump began his second term as U.S. president, the SEC has ended civil lawsuits against crypto exchanges Binance, Coinbase and Kraken. The case is SEC v Ripple Labs Inc, U.S. District Court, Southern District of New York, No. 20-10832. Sign in to access your portfolio
Reuters
26-06-2025
- Business
- Reuters
SEC, Ripple wants to settle crypto lawsuit, but US judge rebuffs them
NEW YORK, June 26 (Reuters) - A federal judge on Thursday rejected an unusual joint motion by Ripple Labs and the U.S. Securities and Exchange Commission to endorse the cryptocurrency company's reduced $50 million fine to settle a civil lawsuit over the sale of unregistered securities. U.S. District Judge Analisa Torres in Manhattan chastised both sides for claiming that their settlement in March should excuse Ripple from honoring her permanent injunction against violating the law. Ripple's chief legal officer Stuart Alderoty posted on X that the company has not decided its next legal steps. An SEC spokesman had no immediate comment. The case concerned sales of the XRP token, and has been one of the SEC's highest-profile cryptocurrency cases. In July 2023, Torres ruled that while XRP sold by Ripple on public exchanges did not meet the legal definition of a security, $728 million of XRP sales to institutional investors should have complied with securities laws. Ripple and the SEC appealed, but agreed to settle if Torres set aside her injunction and approved lowering the $125 million fine she imposed last August. The SEC has been easing oversight of cryptocurrencies, and the judge agreed it can change course on enforcement cases. Torres said, however, that both sides had "not come close" to showing that exceptional circumstances outweighing the public interest and administration of justice justified the settlement. "The parties do not have the authority to agree not to be bound by a court's final judgment that a party violated an Act of Congress in such a manner that a permanent injunction and a civil penalty were necessary to prevent that party from violating the law again," she wrote. "Accordingly, if jurisdiction were restored to this court, the court would deny the parties' request to vacate the injunction and reduce the civil penalty," she added. Torres said the SEC and Ripple remain free to withdraw their appeals, or appeal her injunction. XRP is the fourth-largest cryptocurrency by market value, trailing bitcoin, Ethereum and Tether, the market service CoinMarketCap said on Thursday. Since Donald Trump began his second term as U.S. president, the SEC has ended civil lawsuits against crypto exchanges Binance, Coinbase (COIN.O), opens new tab and Kraken. The case is SEC v Ripple Labs Inc, U.S. District Court, Southern District of New York, No. 20-10832.
