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Binance is facing major backlash online as users denounce the use of a perfume to market to women as a sexist attempt to attract women by playing on female stereotypes.
It's not unusual for major cryptocurrency companies like Binance to release non-crypto accessories to cash in on market enthusiasm, whether it's bitcoin t-shirts, meme coin-themed phone cases, or nft-themed sunglasses. However, Binance made a unique move yesterday, becoming the first company in the industry to launch a women's fragrance called “crypto.”
Binance is promoting the perfume ahead of International Women's Day to motivate women to actively participate in the crypto space.
Despite constant demands for change, disparities in gender representation in the tech industry remain stark. In 2022, while women made up 49% of the overall U.S. workforce, they held only 26% of positions in the computing and technology sectors, the Computing technology Industry Association (CompTIA) reported in its State of the tech annual report. tech-stats#:~:text=Gaps%20in%20STEM%20Education%20Graduate%20Stats,-The%20gender%20gap&text=Women%20account%20for%20a%20mere,Physical%20Sciences%20degree%20recipients%20respectively.” target=”_blank” rel=”noopener”>report.
After the post, responses soon started pouring in online from people criticizing Binance for the apparent sexist mistake.