Cryptocurrency was envisioned as a tool for financial inclusion, but does that translate to equal representation for women in the industry? The data suggests otherwise. Despite its promise of decentralization and empowerment, the crypto space remains largely male-dominated, both in terms of ownership and leadership.
Women as Crypto Investors: The Growing Divide
A recent Global State of Crypto 2024 report by Gemini highlights a worrying trend—women’s participation in crypto investment is declining. In 2022, women made up 42% of crypto holders, but in 2024, that number fell to just 31%.
Despite this, those who do invest tend to hold assets for the long term. Interestingly, in the UK, women are more likely than men to hold their crypto for over a year, indicating a growing commitment to digital assets. Yet, the overall decrease in participation suggests that crypto firms have a massive untapped market of female investors.
The Leadership Gap: Women in Crypto Companies
The gender disparity becomes even more apparent when looking at leadership roles. A study by Forex Suggest found that only three of the top 50 crypto companies are led by women—Ola Doudin (BitOasis), Ambre Soubiran (Kaiko), and Simone Maini (Elliptic). None of these companies are based in the U.S., and their visibility is significantly lower than their male-led counterparts.
However, this doesn’t mean women aren’t making strides in the industry. Many female professionals are carving out careers in blockchain and crypto, though the path remains challenging.
The Wage Gap in Crypto: Contradictory Findings
One of the most debated aspects of gender disparity in crypto is the wage gap. The 2024 Web3 Finance Compensation Report reveals a 46% pay gap between men and women in Web3—a stark contrast to traditional finance.
Yet, a Pantera Capital study contradicts this, stating that women in Web3 actually earn 14.67% more than men on average. However, this could be due to the low number of women in the industry, with female employees typically occupying higher-skilled positions requiring at least five years of experience. Meanwhile, men dominate entry-level roles, which might skew the data.
Regardless of the study, one fact is clear—women remain underrepresented in Web3, and the disparity in career opportunities continues to be a barrier.
Women Shaping Crypto Regulation
Despite these challenges, women have played key roles in shaping the crypto industry, particularly in policy and regulation.
- Senator Cynthia Lummis has been a vocal advocate for crypto-friendly policies and is a key figure behind the Strategic Bitcoin Reserve proposal in the U.S.
- Caitlin Long, CEO of Custodia Bank, has spent years fighting against Operation Choke Point 2.0, a crackdown on crypto-friendly financial institutions.
- Hester Peirce, an SEC commissioner, has consistently pushed for fairer regulations, allowing crypto companies to innovate without unnecessary legal roadblocks.
The Future of Women in Crypto
While the current numbers indicate an imbalance, the trend is shifting. More women are entering the crypto space, whether as investors, entrepreneurs, or policymakers. The key to accelerating this progress lies in education, inclusivity, and industry-wide initiatives aimed at increasing female participation.
The next few years will be crucial in determining whether crypto truly lives up to its promise of financial inclusion—or if it remains yet another male-dominated industry.
