- Binance has celebrated a milestone at its Women in Technology Academy.
- The exchange faced backlash for its recent fragrance launch promoting gender balance in crypto.
- Binance is enhancing efforts to promote women’s financial literacy and increase engagement with the asset class.
Gender imbalance in crypto has persisted over the years, which is evident in the limited participation of women in the industry compared to men. As an industry born from the fusion of two male-dominated sectors, technology and finance, women in crypto are significantly underrepresented, spurring the need for empowering initiatives to correct the imbalance.
Binance has celebrated a milestone at its women-focused educational platform reflecting this.
Binance Women Academy
On Thursday, March 14, Binance announced the graduation of the first 50 scholars of the “Binance Women in Technology Academy”.
Sponsored
According to CNNTurk, the Turkey-based academy established by Binance in collaboration with the Women’s Association in Technology (Wtech), is an educational platform that aims to address the gender imbalance in crypto by reaching 5,000 women within five years.
Certificates were awarded to the 50 graduates upon completing a 6-week program, which included courses on modern technologies such as finance, crypto, NFTs, cloud computing, and digital wallets training, given by academicians and industry leaders.
Binance Turkey Marketing Director Harika Eldoğan emphasized the educational initiative’s importance in fostering gender diversity in crypto, reiterating the exchange’s efforts to train women to participate in the sector. “If solved, women will solve this gender inequality in technology,” she stated.
Sponsored
The Binance Women Academy milestone aligns with the exchange’s reiteration of efforts to promote gender balance in crypto. It improves its stance, particularly after the perfume stunt it faced backlash for.
Binance Women Fragrance Campaign
On March 6, Binance unveiled a customized “CRYPTO” perfume to promote women’s engagement in crypto ahead of the 2024 International Women’s Day celebration.
However, the campaign did not receive the reception the exchange hoped for, criticized as stereotypical and disrespectful to women in crypto.
While Binance emphasized that the fragrance was orchestrated by its female marketing team, the undermining approach suggested that it was conceived and promoted by men. This led to its condemnation across the industry as non-empowering.
Women asserted that the approach defies the need for improved initiatives that target the long-ingrained gender imbalance, calling on the exchange to adopt a more effective approach.
On the Flipside
- According to a recent study, women comprise only 37% and 13% respectively in crypto ownership and leadership roles.
- Despite the underrepresentation of women, Cathie Wood, Elizabeth Stark, Gray Chen, and more stand out as industry-leading participants.
- A study by crypto exchange showed the impact of gender imbalance in funding allocations, where only 6% go to female-led firms.
Why This Matters
Addressing gender imbalance in the industry requires ingenious and change-making efforts, such as educational platforms. Binance’s Women Academy will help women orient themselves to improve engagement with the industry and create a diverse ecosystem.
Read more on the easing Binance Nigeria regulatory conflict:
Binance and Nigeria Celebrate Post-Naira Debacle Alliance
The Dutch regulatory body has imposed a fine on Crypto.com:
