Older people are moving into the world of crypto whilst Riot Blockchain recruits a new head of corporate development
Crypto not only for the young
Older Americans are investing in crypto to help fund their retirement.
According to KuCoin, 27% of Americans aged between 18-60 have either owned or traded crypto in the last 6 months.
While 28% of Americans aged 50 and above, have used crypto to secure their retirement.
Despite the market’s meltdown, older people are wanting to expand their portfolio and follow the crypto trend.
Investment banker Jason Chung joins Riot Blockchain
Joining as the head of corporate development, Chung will work on capital markets and financing deals at the company, which focuses on large-scale mining in the US.
Riot Blockchain has the largest Bitcoin mining and hosting facility in North America.
The company was a bio-tech equipment maker until it renamed itself in 2017 to reflect a new focus.
But shares have plunged about 68% this year as Bitcoin prices slide.
The company has a market value of about $913 million.
Chung has been working on mergers and acquisitions at the Japanese lender, Nomura since 2014.
