Crypto Diversity

Which major companies in the crypto space are the most diverse?

The world of cryptocurrency is open to anyone able to connect to the internet and get trading, but like most things in the world, trading and working in crypto is more popular within certain demographics than others. For example, cryptocurrency is much more popular amongst young people as 31% of people aged 18-29 have used it, compared to just 3% of people over 65. Moreover, males are more likely to use cryptocurrencies than females, 22% of men said they used them compared to just 10% of females.

But is this the same for the people working in the crypto world, and what is the gender split at the top levels of major cryptocurrency companies? By studying 30 of the biggest companies working in the crypto world, we have been able to identify the makeup of the executives, board members, and key staff of these companies. We’ve taken a deeper dive into the lives of some of the CEOs and founders of these companies, to see what traits they all share.

Board members and high-up workers

There is a much higher percentage of males working high up in the top 30 cryptocurrency companies than females. In fact, 78.4% of the most important people are male on average, compared to just 21.6% being female. Furthermore, there are a number of companies such as Alchemy, Bitpanda, and Ledger that are 100% male-dominated at the highest echelons. But this is not the case with all of them, below are the ones with the biggest split the other way:

Companies with the biggest female-to-male split

1 – Chainalysis, 46.2% of the top employees are female:

Blockchain data platform Chainalysis has the highest proportion of females in its top team, as six of the thirteen-member leadership team are female, this equates to just over 46%.

2 – Blockdaemon, 44.4% of the top employees are female:

Blockdaemon is another company that works with blockchains, and they have just over 44% of their leadership team made up of females. There are nine total members of the leadership team, and four of them are female.

3 – Amber Group, 33.3% of top employees are female:

The Amber Group have the third highest percentage of female top employees, although it is still only a third of the team. There are 12 total members, 4 of whom are women, working with 8 men.

How do the largest companies perform?

1 – Binance, total disclosed funding of $2 billion

30% Female top employees
70% Male top employees

Binance is the biggest of the crypto companies studied and it has the 6th best female-to-male ratio, as three of the ten leadership members are female.

2 – FTX, total disclosed funding of $1.83 billion

16.7% Female top employees
83.3% Male top employees

FTX rank in 19th place in terms of the female to male ratio amongst their leadership team, 16.7%, (or 1 out of 6) are female.

3 – NYDIG, total disclosed funding of $1.36 billion

12.5% Female top employees
87.5% Male top employees

Just like FTX, NYDIG only has one female member in its top team, but it ranks lower because there are 8 total members in leadership positions. This means that board member Jaqueline Reses only makes up 12.5% of the total.

CEO Shared Traits

The most common trait of the 32 CEOs and founders studied is that 100% of them are male, this patriarchal monopoly is complete in the current cryptocurrency sector.

Most of these men are also relatively young to be CEOs, with the average age of a CEO in the USA being 54, but it is only 40 amongst these cryptocurrency CEOs, a gap of 14 years. The youngest is Sam Bankmen-Fried, the founder of billion-dollar company FTX.

The USA is the birthplace of a lot of them, nine were born stateside. France is the only other nation where multiple crypto CEOs were born, all the other countries only had one CEO, and some were unaccounted for.

CEO Education

Almost all of the CEOs are university educated and achieved at least a degree-level qualification, only two did not, with a further two’s educational history unknown. Many also achieved a masters level, and two CEOs (Peter Smith and Justin Woodward) are doctors of Economics and Law respectively.

The field of study most commonly shared was economics, as eight CEOs studied the subject at university. Unsurprisingly, for an online cryptocurrency bunch, Computer Science was the second most studied subject with six. There was a four-way tie for third, with two CEOs having studied: International business, electrical engineering, physics, or general management.

When it comes to where they studied, there were only three institutions that attracted more than one CEO to study there. Harvard came out top with four future CEOs attending, Oxford University, and Stanford both had three future CEOs attending.

The most famous future CEOs on the list are possibly the Winklevoss twins, co-founders of Gemini. Tyler and Cameron attended both Harvard and Oxford University, the former where they gained notoriety for their lawsuit against Facebook, as they won a large payout after claiming Mark Zuckerberg stole their idea for the social media platform.

Methodology

  • The 30 largest crypto companies were found from CBS Insights, and ranked by their total disclosed funding amount.
  • The makeup of board and leadership teams was found either on the ‘about’ page for the companies, or on Crunchbase.
  • CEOs were found by looking on the company’s websites. Information about them was then found by looking at various sources including Wikipedia, LinkedIn, and Crunchbase.
  • List of sources available here.