Crypto\u2019s reputation as a boys\u2019 club does not come as a surprise: It sits at the very intersection of tech and finance, perpetuating the legacy of \u201cbro culture\u201d that is coded into Silicon Valley and Wall Street. It was only in 2020 when Citigroup bank appointed<\/a> the company\u2019s first female CEO, Jane Fraser. This was a milestone in its 200-year long history and in the history of Wall Street itself, having the first woman lead one of the largest Wall Street banks.<\/p>\n Meanwhile, cases of sexual harassment run rampant across pioneering tech firms, as seen in the case of Riot Games, for example, where it has been implied<\/a> that women simply do not belong. Just four years ago, the 2018 North American Bitcoin Conference culminated in a notorious networking event held at a Miami strip club. Though the organizers later expressed regret at their choice of venue, the story is only one of many incidents in crypto\u2019s history of diminishing the role of women in the industry.<\/p>\n The perception of crypto\u2019s proclivity toward men clearly needs rehabilitation, and the business case for this is evident. An inclusive crypto ecosystem not only broadens its appeal to a wider audience but, more importantly, helps crypto move into the mainstream. While there is no shortage of interest or talents in crypto among women, the most outspoken crypto traders and influencers speak to a male audience simply because these influencers are men themselves. In fact, CryptoHead\u2019s 2021 list of the world\u2019s top 50 crypto figures features an all-male ensemble \u2014 a symptom of serious gender underrepresentation via the absence of women entirely.<\/p>\n Women still suffer from the problematic legacy of the male-dominated finance ecosystem, be it existing barriers to personal finance or in ascending the rungs of the corporate ladder. On Forbes\u2019 2021 Billionaires List, all 12 crypto tycoons are men. While this could be attributed to first-mover advantage, Amber Baldet, former blockchain program lead at JP Morgan Chase, believes that women are just not being publicly recognized for their industry-shaping work because of skewed<\/a> media coverage.<\/p>\n At the same time, female-led projects are seeing less support across the board. 2021 marked the second consecutive year where the percentage of women\u2019s VC funding shrank<\/a> despite total funding levels hitting record highs.<\/p>\n The reality is that crypto is still a nascent industry, so everything, including HR processes, is new, while the lack of diversity further deepens the industry\u2019s unawareness of necessary workplace policies that best support women. As the discourse on gender disparity in crypto continues to gather steam, the solution must go beyond hitting diversity quotas for the sake of it and instead focus on ensuring that women have equal opportunities and a conducive work environment, starting from the hiring stage.<\/p>\n Related: <\/em><\/strong>10 women who used crypto to make a difference in 2021<\/em><\/strong><\/a><\/p>\n When key women executives are appointed because of their professional expertise and <\/a>industry track record, it is undoubtedly an encouraging sign that the crypto industry\u2019s attempts to narrow the gender gap are genuine. It is high time that the industry recognizes and rewards female talents instead of lapsing into lazy platitudes and cheap wins where we celebrate diversity for diversity\u2019s sake. Women are stepping up to a variety of leadership and entrepreneurial roles in the field, and more can be done to break the stigma of women in crypto being locked into influencer stereotypes.<\/p>\n Representation begets representation \u2014 exposure to female figures in the industry will go a long way to encourage young women who are looking to get into the industry. But for women to be supported at every stage of their crypto careers, it is important to consider broad deep-seated gender inequalities that limit their capacities to succeed at work.<\/p>\n Women globally have been found to spend two to ten times more time on unpaid care work than men. This could include housework and caregiving duties focused on children, the sick and the elderly \u2014 areas that many companies underestimate. Empowering women with more flexibility and control over their working hours, for one, is only a small step for success and the nature of crypto as a global and distributed industry certainly facilitates this flexibility.<\/p>\n Related: <\/em><\/strong>Is crypto a boys\u2019 club? The future of finance is not gendered<\/em><\/strong><\/a><\/p>\n The key to success in the crypto industry, however, lies in realizing crypto\u2019s promise as a social and financial instrument for freedom. It has the potential to redefine the financial industry both economically and culturally, as it is an avenue for financial freedom that can do away with age-old power structures of the traditional financial industry. Until there are more initiatives that champion crypto\u2019s underlying philosophy as well as more women and many more communities represented in the field, it is fair to say that it is men who \u201csimply don\u2019t get it.\u201d <\/p>\n Crypto has a lot to offer to the financially underserved and, more often than not, women are more disadvantaged than men in this arena. Women make<\/a> up 55 percent of the world\u2019s unbanked population \u2014 this means almost one billion women globally have little to no financial security, and this is a problem that crypto can help to address.<\/p>\n Naturally, the anonymity that blockchain technology affords and the autonomy that decentralized finance (DeFi) offers to make crypto an enticing solution to the lack of financial access so many women face. Want to make a living for yourself but societal constraints limit financial autonomy even after you are paid? Crypto can empower you to get paid in Bitcoin (BTC<\/a>) like how activists Fereshteh Forough and Roya Mahboob helped hundreds of Afghan girls<\/a>, who previously had little control over their finances, to reclaim their agency. Want to set up a business? Accept payment in crypto \u2014 no husband needed.<\/p>\n All technologies are inherently neutral by design and this also applies to blockchain. It does not care about your age, gender, race or socioeconomic status. The prospect of overcoming systemic challenges and crypto\u2019s offer of greater financial freedom and independence could not be more welcome and apt.<\/p>\n In fact, things are looking up with 2021 being a defining year for women investors. From crypto trading app Robinhood reporting a 369% increase in its female users<\/a>, to Cardify reporting<\/a> that women made up more than 15% of total cryptocurrency deposits \u2014 a marked 5.6 percent increase from their study the year before \u2014 it\u2019s apparent that women are increasingly cognizant of crypto\u2019s potential as a tool for financial empowerment.<\/p>\n Everyone stands to gain when women have financial freedom among disadvantaged communities or in boardrooms in need of more diversity. Ultimately, whether it is encouraging women to regard crypto as a valid pathway to financial empowerment or championing gender diversity in the crypto industry, the road ahead is still a long one as the industry collectively addresses the gender gap and prove that crypto is integral to the future that everyone has been waiting for.<\/p>\n This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n Annabelle Huang<\/strong> is a managing partner at Amber Group, a global digital asset platform that provides a full range of digital asset services spanning investing, financing and trading, servicing over 1,000 institutional clients and a growing number of individual investors worldwide. Prior to joining Amber Group, Annabelle served as the Asia lead at AirSwap and was part of the FX Structuring desk at Deutsche Bank. Annabelle is an advocate for more women to be part of the crypto conversation. She is a mentor of the Female Entrepreneurs Worldwide (FEW) Incubator, Asia DeFi Network and Brinc Accelerator.<\/p>\n<\/div>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/5c5dd69d-53f3-4eb4-b4c8-116080e3bb28.png\")
<\/figure>\nNumbers speak louder than words<\/h2>\n
![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/6cf77515-cdfd-4776-a8bf-f3545cca99fb.png\")
<\/figure>\nWhy empowerment at every stage is imperative<\/h2>\n
Leveling the playing field for financial inclusion<\/h2>\n
Decentralized and devoid of discrimination<\/h2>\n