The cryptocurrency industry is a male-dominated sector, according to a new report that found that less than 5% of crypto entrepreneurs are female.
The firm Crypto Head said it analyzed the genders of the founders of the world's leading crypto companies and discovered that of the 121 listed founders, only five were female.
This amounts to 4.13% of all founders, the firm said, showing that "the crypto industry is incredibly male-dominated right now."
"While we can expect to see more women getting involved in the crypto industry as it develops and matures, it would be valuable to these companies to actively include more women in leadership positions," Adam Morris, founder of Crypto Head, said in a statement.
Morris said that "this would be highly valuable as a way to improve diversity of thought in the industry, which in turn would no doubt lead to new developments in the crypto space, while also helping the industry to attract a wide pool of investors."
The list of female cryptocurrency founders includes Flori Marquez of BlockFi, Yi He of Binance, Kelly L. Loeffler of Bakkt and Beryl Li of Yield Guild Games.
The report notes that all of the companies also have at least one fellow male founder.
Marquez was included on Inc.'s 2021 Female Founders 100 List and in an interview with the publication, she said "for some reason, crypto is hugely male-dominated, and that segment of the world shouldn’t be the only ones to experience this new technology and its upside."
Crypto Head's research also found that Robinhood, FTX and Bakkt were the top three crypto companies receiving the most investment.