The crypto market is surging again in 2025, reviving hopes for financial inclusion while raising alarms about volatility and rising fraud. Experts urge immediate regulation and consumer education to protect the most vulnerable.
The cryptocurrency boom is back. After a turbulent 2022 marked by historic crashes and financial scandals, the crypto market has regained much of its value, fueled by a wave of renewed optimism, technological advances, and a political shift in the United States. However, with this renewed enthusiasm come familiar dangers: extreme volatility, sophisticated scams, and speculative use that jeopardize those who see crypto as a path to financial access.
Financial Inclusion or Digital Mirage?
“The first mistake was calling it cryptocurrency,” says Tyrone Ross, CEO of Turnqey Labs. “I grew up in a household without financial education. When I first heard about Bitcoin, I didn’t believe in it. But then I understood its potential: sending money anywhere in the world without intermediaries. That’s a game changer.” For Ross, the appeal of crypto lies in its ability to provide financial services to populations excluded from the traditional banking system.
In the U.S., more than 5 million people are unbanked, and 12 million live in areas labeled as “banking deserts.” “It’s expensive to be poor in this country,” Ross notes. “Some banks charge up to $35 a month just to maintain an account.” In this context, crypto emerges as an alternative for sending remittances, receiving payments, or even saving money—without relying on traditional institutions.
But access does not guarantee safety. According to Cantrell Dumas, Director of Derivatives Policy at Better Markets, “Cryptocurrency has been promoted as a tool for inclusion and has especially resonated among Black and Latino communities, who are more likely to invest in crypto than white Americans.” However, he warns, “Crypto use remains limited and mostly speculative. In 2023, only 7% of U.S. adults said they used crypto, and just 1% used it for purchases.”
Risks, Scams, and Deceptive Marketing
This speculative use can be a double-edged sword, especially for households with little financial cushion. “Crypto prices can rise or fall by thousands of dollars within hours. That volatility can cause devastating losses for families already facing structural inequality,” Dumas warns.
Add to that the scams. In 2023, the FBI logged over 140,000 crypto-related complaints—a 66% increase from the previous year. Losses from crypto scams topped $5.6 million that year, and that figure has already doubled in 2024. The most common scams include Ponzi schemes, identity theft, fake Bitcoin ATMs, and promises of quick riches.
Elizabeth Kwok, former director at the FTC and now managing director at FTI Consulting, emphasizes the need for consumer education. “Crypto should be treated like cash: once you hand it over, only the receiver can give it back. And it’s not backed by any central authority,” she explains. “If someone contacts you with an ‘investment opportunity’ that only accepts crypto, or tells you it’s urgent to send money via a Bitcoin ATM, it’s likely a scam.”
Kwok highlights another red flag: “A lot of scammers use technical jargon to intimidate users. They make it sound so complex that people are afraid to ask questions. That’s a major warning sign.”
Politics, Lobbying, and a Narrative Shift
During his first term, President Trump criticized Bitcoin, calling it “a scam against the dollar.” But that stance has shifted. According to Zeke Faux, investigative reporter at Bloomberg News, “A coordinated lobbying effort by the crypto industry has brought the former president closer to their cause.” At a recent conference in Nashville, the crypto community raised over $20 million for his campaign. In return, Trump embraced a pro-Bitcoin stance: “If Bitcoin is going to the moon, I want America to lead the way.”
Under President Biden, several crypto companies faced lawsuits for violating securities laws. In contrast, analysts suggest a Trump reelection could bring a more relaxed regulatory environment. Faux concludes, “Today, the battle for the future of cryptocurrency is not just technical. It’s political, cultural, and economic. And the outcome is still uncertain.”