Episode 76: What is Crypto Anyway?

It dominates the headlines, but what is cryptocurrency anyway? In this episode of Making Cents of Money, IDFPR’s Jake Hamilton provides an overview of how it works and what the future looks like for this financial technology. Sources of Information Discussed in Today’s Episode: • Office of Innovation in IDFPR: https://idfpr.illinois.gov/about/innovation.html • Previous Related Episodes: o Episode 24: Cryptocurrencies https://blogs.illinois.edu/view/7550/2007128217 or https://on.soundcloud.com/ARLa1 o Episode 56: Fintech and Digital Assets https://blogs.illinois.edu/view/7550/1352982227 or https://on.soundcloud.com/eXDm8 • Coin Market Cap for information about value of cryptocurrency: https://coinmarketcap.com/ • “The Dynamics and Demographics of U.S. Household Crypto-Asset Use” via JP Morgan Chase: https://www.jpmorganchase.com/institute/research/financial-markets/dynamics-demographics-us-household-crypto-asset-cryptocurrency-use • “Majority of Americans aren’t confident in the safety and reliability of cryptocurrency” via Pew Research Center: https://www.pewresearch.org/short-reads/2023/04/10/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/ • “Hot Wallet vs. Cold Wallet” via Investopedia: https://www.investopedia.com/hot-wallet-vs-cold-wallet-7098461 • U.S. Securities & Exchange Commission Resources: o Join the HoweyTrade Investment Program (educational): https://www.investor.gov/additional-resources/spotlight/howeytrade o Crypto Assets and Cyber Enforcement Actions: https://www.sec.gov/spotlight/cybersecurity-enforcement-actions o Thinking about buying the latest new cryptocurrency or token?: https://www.investor.gov/additional-resources/spotlight/directors-take/thinking-about-buying-latest-new-cryptocurrency-or o Digital asset and “crypto” investment scams – Investor alert: https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-alerts/digital-asset o Investor alert: Watch out for fraudulent digital asset and “crypto” trading websites: https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-alerts/investor-3