Binance Exchange Slammed for Strange Women’s Day Perfume Initiative

On International Women’s Day, Binance, the leading cryptocurrency exchange by volume, launched a unique flavor called “CRYPTO”. The campaign received a mixed response from the community, with some criticizing the cryptocurrency exchange.

Why the community criticized Binance's International Women's Day campaign

The Binance Exchange initiative, which aims to narrow the gender gap in the cryptocurrency industry, has sparked discussions around inclusiveness, marketing strategies and the representation of women in finance and technology.

Despite regulatory hurdles and operational challenges, including pleading guilty to money laundering charges and firing a large number of employees in its US division, the Binance exchange has shifted its focus to empowering women at the on the occasion of International Women's Day.

“CRYPTO”, also known as “Eau de Binance”, and created by an all-female team, seeks to challenge stereotypes and attract women into the cryptocurrency ecosystem.

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Rachel Conlan, Marketing Director at Binance, emphasized that the aim of the campaign is to be fun and cross borders. It also aims to spark meaningful discussions about digital currencies in a welcoming way.

However, Binance's Women's Day campaign has faced criticism. Some have argued that the focus on scents could reinforce traditional gender norms rather than dismantle them. This perspective was reflected in reactions on social media, with some users questioning the campaign's ability to promote true gender inclusiveness in the cryptocurrency industry.

For example, I commented Betty, a sarcastic CEO on X:

"This is how we close the gender gap. No more fragrances!"

Despite these criticisms, the Binance initiative highlights the important issue of diversity in finance and technology. Research indicates that there is a strong gender disparity in the cryptocurrency industry. This highlights the need for holistic strategies that go beyond traditional marketing methods.

“We have presented many cryptocurrencies as... Before the brothers, Brotherhood in crypto, a male-dominated field. So it's about being more sarcastic and ironic, and borrowing from icons of the perfume industry and the beauty industry, and things that attract attention.."

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How BeInCrypto honors the spirit of women in crypto

BeInCrypto is at the forefront of female empowerment, championing the spirit of women in crypto with a clear vision of a more equitable future. Under the supervision of the CEO and co-founder Alina AfanasyevaBeInCrypto is more than just a player in this industry. They are a pioneering company that has championed gender inclusion and empowerment since the beginning.

With her rich experience as a financial analyst, Afanasyeva fully understands the gender constraints in the financial sector. Therefore, BeInCrypto is founded on the principles of transparency and integrity.

Additionally, her leadership embodies her belief that women are an integral part of the cryptocurrency revolution. Currently, BeInCrypto has approximately 40% women among its workforce, including women in leadership positions.

"The crypto industry sometimes feels like a boys' club. The entire industry needs to become more inclusive." She says Afanasyeva for Forbes magazine.

However, the broader crypto sector remains heavily male-dominated, with women making up just 5% of entrepreneurs and less than 10% of fund partners. This blatant underrepresentation is alarming.

Recognizing this, a recent study by Bitget highlights the significant gender gap. It reveals that female-led blockchain startups receive only 6% of total funding. This report highlights the urgent need for a more inclusive ecosystem.

This is why initiatives such as Bitget’s “Blockchain4Her” initiative, which allocated $10 million to support women-led businesses in the blockchain sector, were launched.

In this regard, Gracie Chen, CEO of Bitget, told BeInCrypto:

“Allocating a portion of investments to funds specifically focused on women entrepreneurs can provide them with essential support and resources tailored to their needs. »

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There is no doubt that the path to gender equality in the crypto and Web3 industries is fraught with challenges. However, visionary leaders and dedicated initiatives are paving the way for inclusion. As the industry grows, the essential role of women becomes more and more evident.