The cryptocurrency exchange approached the problem of gender inequality in the world of cryptocurrencies through perfume
Binance, the largest cryptocurrency exchange in the world by volume, is facing serious problems. The company and its co-founder Changpeng Zhao pleaded guilty to money laundering charges and agreed to pay a $4.3 billion fine to the US Department of Justice. Binance US laid off two-thirds of its staff and saw trading revenue drop by 75%.
At the same time, Binance's marketing department launched a campaign to encourage women to get involved in cryptocurrencies through smell in honor of International Women's Day.
«The goal of our campaign — have fun and try to overcome boundaries», — said Binance Chief Marketing Officer Rachel Conlan. «We understand that there will be those who are indignant, but we are confident that this approach helps open the discussion in the right direction, and besides, a female team worked on the project».
On March 5, Binance announced its own flavor on social media. «CRYPTO», also known as «Eau de Binance», is reminiscent of the smell of the last day of a busy hackathon, when everyone didn't have time or opportunity to shower. Or perhaps the smell of Sam Bankman-Fried's prison cell. But this stereotype, according to Conlan, needs to be overcome to make the cryptocurrency space more inclusive.
The fragrance itself is described as follows: «This fragrance opens with fresh notes of ozone, salt and moss, reminiscent of a fresh and invigorating breeze. The heart of the fragrance reveals a rich combination of oud, mandarin and precious woods, and the base of the fragrance, consisting of amber, wood and musk, creates a warm, musky-sweet and earthy scent that exudes sophistication.
More and more women are appearing in the cryptocurrency industry. A Boston Consulting Group report showed that 7% of web3 project founders and 27% of employees of leading crypto startups — women. However, gender inequality also exists among crypto investors.
Binance has released about 100 bottles of perfume that are not for sale. Instead, women can try the fragrance at a shopping mall in Bahrain. This unusual promotion is intended to be used to attract attention, and the main part of the promotion is that the first 5,000 women who successfully complete the Binance Academy Beginner Course will receive $25.
Conlan's manifesto reads like this: «The more women we attract to work in this field, the more products will be developed taking into account the interests of both men and women».