Blockchain startups led by women receive only 6% of total funding, according to research by cryptocurrency exchange Bitget, shared with ForkLog.
The analysis covered the period from 2022 to the first three quarters of 2023, incorporating both qualitative and quantitative data.
During this time, the funds raised by blockchain startups decreased by 70.1% per quarter.
Statistics reveal that male-led projects attracted $27.85 billion, while female-led teams secured $1.77 billion (6.34% of the total). This is partly due to a 45.2% decline in the number of female-led startups since the beginning of 2022.
“Startup funding is influenced by the overall situation in the cryptocurrency market, investor sentiment, and their biases. Funding for blockchain projects led by women is more sensitive to negative changes but less responsive to bullish trends,” the report’s authors note.
Bitget believes that gender biases are unacceptable in the global blockchain economy. The company also advocates for the creation of incubators to support women-founded startups.
In a study by CNBC and Momentive from September 2021, it was found that men are twice as likely as women to invest in cryptocurrencies.
The percentage of ForkLog’s audience that is female can be found in the results of the latest survey: