Student Winners Averaged 140% Return on Investment in ‘Battle for the Cryptos’
BALTIMORE — The Center for the Study of Blockchain and Financial Technology (FinTech Center) at Morgan State University announced the winners of its second annual HBCU Students Battle-for-the-Cryptos challenge at a virtual awards ceremony hosted by competition sponsor Binance.US. Drawing students from historically black colleges and universities (HBCUs) nationwide to participate in a cryptocurrency trading competition, the contest is designed to elevate their understanding of, and experience with, cryptocurrency investing, trading, and portfolio management. The winners of this year’s competition are Hampton University’s Camron Knight, who took first place, Morgan’s Oyedoyin Aduroja, who came in second place and Alabama A&M University’s Terence Nkwatabe in third place.
Beginning on March 1, the 10-week intensive competition assembled a total of 96 students from 19 HBCUs to yield the highest portfolio balance given a benchmark $200 seed of crypto to create a Binance.US wallet. Each participant was challenged to buy and sell crypto in an effort to grow their net worth and ultimately win crypto-cash awards for the highest portfolio balance. Trading for the competition ended at midnight on May 6, with 28 active traders still in vigorous contention.
“Our cryptocurrency trading competition presents a terrific opportunity for HBCU students to gain real-world experience with an essential segment of the fintech industry that is very complex and is rapidly evolving,” said Ali Emdad, Ph.D., associate dean of the Earl G. Graves School of Business and Management (SBM) and founding director of the FinTech Center at Morgan State University. “We are indeed grateful to Brian Brooks, Binance.US CEO, and his exceptional team for supporting our vision.”