Gemini’s study reveals the gender disparity in the wage structure and the percentage drop of women in crypto participation.
The Gender Ownership Gap
According to Gemini’s Global State of Crypto 2024 research, the gender disparity in cryptocurrency ownership became more noticeable in 2024 compared to 2022. The survey also revealed that both men and women in crypto are equally likely to purchase cryptocurrency to hold for a long time.
However, the 2024 ownership rate among women was 31%, down from 42% in 2022. More women than men have held cryptocurrency in the United Kingdom for over a year.
Notably, the study is based on a poll of 6,000 adults from five nations: the United States, France, Singapore, the United Kingdom, and Turkey. The disproportion suggests that cryptocurrency companies can significantly grow their user base by attracting female investors.
However, these businesses must figure out how to attract women not currently interested in cryptocurrency.
Women In Crypto and the Blockchain Sector
The gender gap is much more pronounced when considering the percentage of employed women in crypto. According to the Forex Suggest survey, there is a gender disparity among the CEOs of the top cryptocurrency companies.
Only three of the fifty leading industry leaders are female; the other forty-seven are male. Kaiko CEO Ambre Soubiran, BitOasis CEO Ola Doudin, and Elliptic CEO Simone Maini are the three most popular female blockchain CEOs.
They are not as well-known as the firms they lead because none are headquartered in the United States, and neither has a website on par with the top male CEOs.
Although the gender disparity is pronounced, many women hold respectable jobs in the cryptocurrency industry. Thus, these figures shouldn’t deter women from joining the field.
A BDC Consulting study says more than half of women who utilized cryptocurrency did so to enhance their well-being. Rather than engaging in trading, women are more inclined to hold their cryptocurrencies for extended periods.
The report stated that women’s biggest obstacles to entering the crypto world include a lack of educational resources, family finances, and unpleasant remarks from their male peers in cryptocurrency.
Salary And Earnings Disparity
Meanwhile, the 2024 Web3 Finance Compensation Report says that women in the Web3 sector earn 46% less on average than men. This gap is more significant than in the Web2 space.
This report further revealed that last year’s venture capital investments in women-founded cryptocurrency firms amounted to 7%, a 100% increase from the previous year but still very small.
But Pantera Capital presents an entirely different image. According to the Pantera report, women in the cryptocurrency sector earn above their male counterparts.
The report is based on a response from 502 Americans. According to the survey, few women are working in the field overall.
Interestingly, women often work in professions requiring at least five years of experience, whereas men typically hold entry-level roles. According to Pantera Capital research, this trend explains the gender wage gap in the cryptocurrency sector.
How Women in Crypto Influence the Sector
Still, the significant contribution that women have made to the cryptocurrency industry cannot be understated. Two activists from Wyoming stand out among the best examples of the 2020s: Senator Cynthia Lummis, who is most known for initiating and supporting the Strategic Bitcoin Reserve, and Caitlyn Long, the CEO of CustodiaBank.
Caitlyn Long is a well-known speaker who often highlights Bitcoin’s benefits over TradFi (Traditional Finance) assets. Her remarks are primarily related to the regulation of cryptocurrencies.
Before cryptocurrency and Bitcoin gained broader popularity, Lummis shared insights about them among government agencies. Hence, she noted that a lot has changed compared to the 2010s, when several of her peers were unaware of Bitcoin.
Also, Hester Peirce changed the SEC’s approach to dealing with cryptocurrency businesses. Throughout Gary Gensler’s tenure, cryptocurrency companies invested in legal battles.
The regulator considered cryptocurrency an unregistered security. However, Peirce introduced a new perspective that allowed businesses to grow freely.
These are a handful of the numerous examples of women’s impact in crypto. It will likely take some time before more women run cryptocurrency businesses.
Although obstacles are ahead, women in crypto are unquestionably skilled and committed.
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