Systemic challenges for women in crypto run deep. As a start, men still dominate finance and tech. One cannot deny that gender stereotypes have a part to play. But we also need to look at the wider systemic challenges that women in crypto face.
Just look at how we manage resources. Female-led projects receive less support across the board. 2021 was the second consecutive year where the percentage of VC funding for these projects shrank. However, at the same time, total funding levels hit record highs.
On top of supporting women with resources, representation is crucial. Many studies have looked at stereotypes in children. Worryingly, children expect scientists to be male. This is a challenge for women looking to get involved in tech and crypto.
However, we need to avoid “tokenism.” Indeed, we should only employ women on merit. With more female representation, I believe that sexism in the crypto industry will become a thing of the past. In other words, that more women will flourish in crypto.
Challenges for women on crypto social media
Sadly, there continues to be many examples of sexism on platforms like Discord and Telegram, where the crypto community meets online. These platforms, much like Reddit and Twitch, are largely male-dominated.
On these platforms, it’s common to find comments that diminish women. Apparently, men understand the crypto space better. Such prejudice is a common challenge that women in crypto face.
However, these challenges are faced by women in all spaces, not just crypto. Sexism is prevalent on the internet as a whole. Ultimately, this is something that society generally has to overcome.
I believe greater female representation is key to challenging this. When we champion women leaders in crypto, we empower women. Consequently, we challenge the stereotypes that still exist.
How crypto can overcome the challenges women face
Indeed, crypto is an instrument for freedom. Innovation is challenging power structures. And crypto is making the financial ecosystem more inclusive.
However, crypto presents opportunities for every group to participate in the global economy. And financial inclusion is at the core of Amber Group’s mission. We want to use crypto to build a more progressive system. One that works for women, and everyone.
Author: Annabelle Huang
About the Author
Annabelle Huang is a Managing Partner at Amber Group, a leading global digital asset platform. Annabelle supports people who are new to the crypto industry, and advocates for women in crypto. Also, she is a mentor of the Female Entrepreneurs Worldwide Incubator (FEW), Asia DeFi Network, and Brinc Accelerator.