{"id":489264,"date":"2025-07-13T14:00:52","date_gmt":"2025-07-13T13:00:52","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=489264"},"modified":"2025-07-13T11:03:39","modified_gmt":"2025-07-13T10:03:39","slug":"glass-ceiling-cracks-as-women-rise-in-web3","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/glass-ceiling-cracks-as-women-rise-in-web3\/","title":{"rendered":"Glass ceiling cracks as women rise in Web3"},"content":{"rendered":"

Welcome to\u00a0Slate Sundays<\/a>, CryptoSlate\u2019s new weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto.<\/em><\/p>\n

I recently interviewed Gracy Chen<\/a>, the first female CEO of Bitget<\/a> and the only female CEO out of the top 10 centralized exchanges. I wanted to ask about her vision, skills, background, and achievements (and I did), but, inevitably, given her minority position and the fact that we were at a press conference announcing an initiative to educate females in blockchain, the conversation turned to her sex.<\/p>\n

Whether we like it or not, females are underrepresented in tech\u2014and web3 especially\u2014 and it got me thinking about an article<\/a> I wrote in 2018 titled We Need More Women in Tech – But Not to Serve the Drinks<\/em>, and a subsequent, slightly more cynical<\/a> take a year or so later, Why the Women in Blockchain Movement Makes Me Nauseous<\/em>.<\/p>\n

At the time, as you might imagine from the titles, I got a lot of grief. Not quite enough to get me canceled, but sufficient to spur my hibernation from Twitter for a while. My \u201ccontroversial\u201d views fell on the woke sector of the audience like rain at a picnic and offended those championing DEI in the industry (admittedly, not hard to do).<\/p>\n

Except, I wasn\u2019t suggesting we shouldn\u2019t support women in crypto, and I certainly wasn\u2019t saying they shouldn\u2019t be here (after all, I am one). What I was calling for (like most women, I believe) was to be recognized for my skills and ability, not my genitalia. And I\u2019m not so sure that happens when DEI is an optics metric.<\/p>\n

Fast-forward to the post-woke era of 2025, my article has aged somewhat better, and my point hasn\u2019t really changed. We need more women in tech, yes\u2014but not to serve the drinks. Not to sex up the conference booths and after-parties, and not to fill a quota.<\/p>\n

As Shalini Wood, former CMO at Bitcoin staking platform Babylon Labs<\/a>, told me:<\/p>\n

\u201cI\u2019d like people to stop obsessing over ‘diversity optics' and start obsessing over outcome-driven inclusivity. Hire women in leadership roles because they\u2019re qualified, and then back them up with the same resources and trust you\u2019d give anyone else.\u201d<\/p><\/blockquote>\n

Clap. Clap. Clap\u2026<\/p>\n

Women in leadership roles impact the bottom line<\/h2>\n

We need more women in web3 because women have earned their stripes in top positions. Organizations with at least 30%<\/a> women in leadership roles are 12x more likely to be in the top 20% for financial performance.<\/p>\n

We need more women in web3 because they positively impact the bottom line. Companies in the top 10%<\/a> for financial performance have more women leaders.<\/p>\n

Most of all, we need more women in web3 because the new financial system isn\u2019t reserved for just half the population. As my friend and former colleague Shazia Hasan, Head of Marketing at Story, so eloquently puts it:<\/p>\n

\u201cYou can\u2019t be what you can\u2019t see.\u201d We need more stories, visibility, and seats at the table.\u201d<\/p><\/blockquote>\n

Mind the gender gap<\/h2>\n

I expected the women I contacted for this article to confirm my bias that, six years on, nothing has really changed beyond the nomenclature from blockchain to web3.<\/p>\n

After all, women have been fighting the good fight for centuries to little avail. All we\u2019ve achieved is the pleasure of doing it all, rather than having it all: Being the caregiver, breadwinner, and general chief of vibes at work and at home, babysitting grown men as well as teething toddlers.<\/p>\n

But they didn\u2019t. I\u2019m pleased to report that the outlook for women in this industry has improved, in terms of expectations and from a numbers perspective as well. As one inspiring First Lady, Eleanor Roosevelt, famously said:<\/p>\n

“No one can make you feel inferior without your consent.”<\/p><\/blockquote>\n

I found the women of this cohort to be ballsier, thicker-skinned, more demanding (rightly so), and with a lower tolerance for BS. Perhaps the men of their generation have also been trained not to look lustfully at their legs, ask them to make their coffee, or salivate over the size of their\u2026 brains.<\/p>\n

Women in web3 still feel like they\u2019re in the minority, and that doesn\u2019t always work to their advantage, but progress has been made.<\/p>\n

As an ageing millennial myself and solo parent since my youngest was still crawling, my experience wasn\u2019t the same. It\u2019s like the stage is set up to fail when both your jobs demand attention 24\/7, and something always slides on both sides, whether it\u2019s the astronaut costume you forgot to make or the missed deadline on your OKRs.<\/p>\n

Despite the odds being stacked against me in my career and the (many) meetings taken from a ball pit, playground, or bedroom cupboard, I excelled at my job, became a high earner, and named my price. Only to have to apologize for the salary I commissioned, and be made to feel greedy and unrealistic at several interviews when they asked about my desired remuneration. I can\u2019t imagine a man having to shrink in such a way.<\/p>\n

The pay gap may be narrowing, but women still make 83 cents<\/a> on the dollar compared to their male counterparts today, workplace-wide, and as Melizza Anievas, cofounder and executive director of Women in Web3 Hong Kong<\/a>, and senior VP of China Information Technology Development Limited, says, women in web3 fare far worse.<\/p>\n

\u201cWomen in web3 still face a steep uphill climb. The gender pay gap persists\u2014web3 finance data shows women earning 46% less<\/a> than men on average.\u201d<\/p><\/blockquote>\n

The uphill grind<\/h2>\n

Unlike being mistaken for a waitress or personal assistant, the power-women I spoke to had resoundingly better experiences, although they all agreed on one thing: being underestimated goes with the territory. And it usually plays out in their favor. Shalini shares:<\/p>\n

\u201cBeing underestimated gives you freedom to move quietly and strike powerfully. I don\u2019t waste energy trying to be \u201ctaken seriously.\u201d I just execute. And ironically, that\u2019s where the advantage comes in\u2014the underestimation. If someone\u2019s busy sizing me up, I\u2019m already five steps ahead.\u201d<\/p><\/blockquote>\n

Melizza agrees, saying:<\/p>\n

\u201cEasily one of my barriers is the way that I'm perceived\u2026 I do preemptively expect to be seen as less “educated” about the industry, as well as less experienced when it comes to the work I'd need to do.\u201d<\/p><\/blockquote>\n

This is why women work harder, learn faster, or feel the need to develop a little je ne sais quoi in order to excel, such as being harsher, bitchier, or funnier.<\/p>\n

Gracy frequently uses humor to work a crowd, and we\u2019ve all encountered a female boss or colleague who elevated perma-PMS to a whole new level.<\/p>\n

But the expectations on female leaders are higher. They must be exceptional. Good enough doesn\u2019t count, and it\u2019s not the same for a man. Studies back this up: Female CEOs are frequently more qualified than their male counterparts. Women are 32%<\/a> more likely to have served as company president prior to becoming CEO.<\/p>\n

Lucie Acquaviva is a cofounder of Women in Web3 Hong Kong and spent five years in marketing at Animoca Brands<\/a>. She\u2019s had to mold herself to fit industry templates on more than one occasion. She shares:<\/p>\n

\u201cThe traditional view of leadership is still filtered through a gendered, often patriarchal lens, which can make it challenging for women, especially those of us who are naturally introverted or who lean into soft skills rather than bravado.<\/p>\n

The script sometimes feels written for a different character, which means we often have to work harder not just to prove ourselves, but to genuinely be seen and heard.\u201d<\/p><\/blockquote>\n

Teigi Lee is a former colleague of mine at OKX<\/a> and the Head of Marketing at global crypto exchange Flipster<\/a>. She reflects:<\/p>\n

\u201cTo be honest, in crypto, projecting confidence often feels like a prerequisite, especially for women. It\u2019s a space that\u2019s still very male-dominated, often loud, fast-paced, and competitive. If you\u2019re not immediately assertive, your ideas can get overlooked, no matter how solid they are.\u201d<\/p><\/blockquote>\n

Bros before\u2026 their highly accomplished, talented female counterparts<\/h2>\n

When it comes to web3 culture, in the workplace anyway, there's been markedly less headway. Almost all the women cited the pervasive frat house culture. It\u2019s an area I feel somewhat conflicted about. I confess to enjoying chiming in on virtual poker nights and inciting betting sh*tcoins on football games, but I understand it not being many women\u2019s cup of tea. Lucie says:<\/p>\n

\u201cWeb3 can feel like a bit of a boys\u2019 club, and I\u2019ve often found myself to be one of the few women at industry events. There\u2019s also a particular culture around networking (late-night parties, drinks) that simply doesn\u2019t suit everyone, myself included. It can be lonely not having many female peers to relate to.\u201d<\/p><\/blockquote>\n

Melizza concurs:<\/p>\n

\u201cGender bias, stereotypes, and lack of female mentors continue to be major obstacles. The technical nature of web3, combined with societal expectations and \u201cbro culture,\u201d can make it intimidating for women to join, persist, and advance. Many women still report being the only female in the room, facing skepticism about their expertise, or dealing with online harassment.\u201d<\/p><\/blockquote>\n

Oh yeah, online harassment can be brutal, but Crypto Twitter is a hostile place for everyone at times. What annoys me the most are the self-congratulatory memes that circulate about guys picking up girlfriends for stacking sats or Dad being the Bitcoin legend of the family, like this one<\/a> posted by @CarlBMenger:<\/p>\n

\"Paternalistic
Roll your eyes, ladies<\/em><\/figcaption><\/figure>\n

Teigi says:<\/p>\n

\u201cCrypto is still very male-dominated.\u201d<\/p><\/blockquote>\n

But there\u2019s an upside:<\/p>\n

\u201cCompared to web2, I\u2019ve found the culture in web3 a bit more fluid and open to change\u2026 In web3, while bias still exists, the speed, global nature, and experimental mindset create more chances to be heard, especially when you bring results.\u201d<\/p><\/blockquote>\n

Brand consultant, former colleague, and friend Vivien Choi also holds a more optimistic view. She explains:<\/p>\n

\u201cUnlike older, more rigid sectors, web3 rewards agility and open-mindedness, inviting diverse perspectives to co-create the future. The beauty of this industry is that it\u2019s still in its infancy\u2014no fixed set of rules, no boundaries yet defined. It\u2019s like drawing on a blank sheet of paper.\u201d<\/p><\/blockquote>\n

Women in web3: the situation in numbers<\/h2>\n

Beyond the qualitative data, the numbers are modestly encouraging, at least compared to 2018. Women in web3 are still demonstrably behind, but the panorama is slowly shifting, and the dial is being nudged in the right direction.<\/p>\n