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During his election campaign, then-presidential candidate Donald Trump promised a pro-crypto administration. So it wasn’t entirely surprising that as his victory began to look likely on Nov. 5, crypto-linked stocks surged. And they have continued to rise since.
Trump isn’t alone in putting trust in crypto. An estimated 18 million Americans are invested in the digital asset. The appeal, to them, is clear: Crypto can offer quick riches, and many of those who got in early enough have since became millionaires and even billionaires.
But is investing in crypto ethical?
Erran Carmel, a professor at American University Kogod School of Business, has reservations. He explores three harms associated with crypto. First, the way crypto is mined has a huge environmental impact. Then there is the association with illegal activities. Finally, the predatory culture surrounding the nascent industry means that some investors are at risk of being taken advantage of.
Those who share Carmel’s ethical concerns may be tempted to invest in cryptocurrencies that tout better environmental practices. But even these “so-called ethical investments come with hidden ethical issues,” writes Carmel.
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Kalpana Jain
Senior Religion + Ethics Editor/ Director of the Global Religion Journalism Initiative
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A woman reviews Bitcoin prices outside a Bitcoin ATM on Aug. 4, 2024, in Rzeszow, Poland.
Artur Widak/NurPhoto via Getty Images
Erran Carmel, American University Kogod School of Business
Crypto can offer quick riches and an air of high-tech worldliness, but it also encompasses some ethical harms that might give investors pause.
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Politics + Society
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Lawrence Torcello, Rochester Institute of Technology
Most Americans actually agree on key issues, including reproductive rights, firearms laws and climate change.
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Christopher Knoepke, University of Colorado Anschutz Medical Campus
Colorado’s red flag law allows judges to order the temporary seizure of guns from someone they think is a significant risk to themselves or others, even in Second Amendment sanctuary counties.
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Science + Technology
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John Duah, Auburn University
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Arts + Culture
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Stephen Brauer, University of Richmond
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Health + Medicine
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Michal Horný, UMass Amherst
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Education
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Kevin Welner, University of Colorado Boulder
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Environment + Energy
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Chad Hecht, University of California, San Diego
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Paula M. Carbone, University of Southern California
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Ethics + Religion
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Therese Cory, University of Notre Dame
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