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U.S. stock indexes barely budged Thursday as the market’s three-day winning streak stalled.
The benchmark Standard & Poor’s 500 index finished essentially flat as declines by communications, industrial and healthcare stocks outweighed gains by financial and technology companies. Several retailers…
Russian President Vladimir Putin said Wednesday that the country’s security services stopped nearly 600 foreign agents and intelligence personnel last year, declaring that adversaries were trying to interfere in Russia’s domestic affairs.
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A women’s cycling race in Belgium started 10 minutes after the men’s race, but apparently there should have been an even bigger gap: As Swiss cyclist Nicole Hanselmann of the Bigla Pro team nearly caught up with the men, event organizers decided to pause the women’s race as Hanselmann risked…
Nearly half of millennial traders have more faith in cryptocurrency exchanges than they do in traditional ones. They are also enthusiastic about the prospect of traditional financial institutions offering crypto assets. That’s according to a new survey which shows a “generational shift” where millennials “place their faith in the power of technology and open networks.”
The Beginning of a Generational Shift
The survey by U.S.-based investment platform Etoro interviewed 1,000 online traders. It found that 43 percent of millennial online traders trust crypto exchanges more than they do U.S. stock exchanges. 93 percent of millennials surveyed also said that they would invest more money in crypto if it were offered by traditional financial institutions such as TD Ameritrade, Fidelity, or Charles Schwab. Even among millennials who don’t trade crypto, one third said they would trust crypto over the stock market. Guy Hirsch, Managing Director of Etoro U.S. said:
He added: “Trust further eroded when Americans saw how hundreds of billions of dollars of taxpayers’ money are funneled to the largest financial institutions while their savings evaporated and how banks get free money through quantitative easing while their cost of living continued to rise.”
The survey also showed that two thirds of millennial crypto traders say they have more faith in crypto as a whole than the stock market. Of millennials who don’t trade crypto, one third said they would trust crypto over the stock market. In contrast, 77 percent of generation X respondents revealed they trust stock exchanges more.
The Perfect Asset Class
Etoro’s survey also showed that among investors across all age groups that don’t trade crypto, 59 percent would invest more money in crypto if it were offered by a traditional financial institution. Current crypto traders would be more at ease investing in the asset class if it were offered by a traditional financial institution, with 92 percent admitting they would invest more money if a conventional financial institution provided this investing option. This shows that despite crypto enthusiasts and millennials distrusting traditional institutions, established companies with a global reputation could draw in younger investors were they to offer crypto assets.
The survey looked at savings plans too. Half of online investors surveyed expressed interest in a crypto allocation in their 401k plans. Of those that don’t trade crypto, 45 percent expressed interest in having some of their 401k allocated to crypto assets, while 74 percent of crypto traders are interested in seeing the option from their 401k provider. Hirsch added: “While there is clearly a demand for crypto assets in 401k portfolios, there are a number of regulatory and market changes that need to occur before it becomes a mainstream offering.”
Mati Greenspan, a senior market analyst at Etoro, told news.Bitcoin.com: “Millennials tend to place their faith in the power of technology and more specifically the power of open networks. This is why crypto is the perfect asset class for our generation.”
What do you think about the results of the survey? Do you trust crypto exchanges over traditional ones? Let us know in the comments section below.
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A Philadelphia real estate investor says a home he was scoping out came with an unadvertised surprise—a stairway booby-trapped with a swinging knife, the AP reports. Ekrem Uysaler says he and his team were looking at the home in January when one of his co-workers saw a small line…
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This is at least the third attack by a sea lion in this harbor since 2017.
Truck drivers at Walmart will soon be making an average of $ 87,500 a year, and the company is looking to hire even more truckers. It currently employs 8,000, and during a recent recruitment run it offered referral bonuses up to $ 1,500. It hired 1,400 new drivers…
In August 2010, Abby Ellin and her fiance moved into a one-bedroom rental in Washington, DC’s Watergate. It’s a location infamous for being “ground zero for deception,” and it’s an almost poetic detail in Ellin’s story of falling for a con man. Ellin is a journalist who allowed herself to…