Binance is facing major backlash online as users decry its use of a perfume to market to women as a sexist attempt to appeal to women by playing into female stereotypes.

It’s not unusual for major cryptocurrency companies like Binance to launch non-crypto accessories to cash in on the market’s enthusiasm, whether it’s Bitcoin t-shirts, meme coin-themed phone covers, or NFT-themed sunglasses. However, Binance made a very unique move yesterday, becoming the industry’s first company to launch a women’s fragrance called “CRYPTO.” 

Binance is promoting the perfume ahead of International Women’s Day to motivate women to participate actively in the crypto space. 

Despite ongoing demands for change, disparities in gender representation in the tech industry remain stark. In 2022, while women constituted 49% of the overall US workforce, they filled only 26% of positions in computing and technology sectors, as reported by the Computing Technology Industry Association (CompTIA) in their annual State of the Tech report.

After the post, responses soon began pouring in online from people criticizing Binance for the apparent sexist blunder.