Industry-wide criticisms have been directed towards Binance’s “Crypto Perfume” for women.

Binance, a leading cryptocurrency exchange, has introduced a luxury perfume with a “crypto” theme as part of its effort to attract more women to the digital asset realm. The fragrance was launched in celebration of International Women’s Day.

Rachel Conlan, Binance’s Chief Marketing Officer, describes the campaign as “bold, distinctive, and intentionally disruptive.” She emphasizes that it sends a message to women, highlighting their crucial role in the crypto revolution.

Binance’s marketing team highlighted that the primary purpose behind launching a cryptocurrency-inspired fragrance is “to inspire more women to delve into and discover the realm of cryptocurrency.”

Binance intends to incentivize the first 5000 women who complete a beginner course on Binance Academy with rewards. Each successful graduate will receive $25 in USDT token vouchers, the company announced.

The newly launched perfume blends “finance with fragrance,” featuring a label that reads “Eau de Binance.” In addition to introducing the perfume, Binance is organizing local meetups and social media campaigns to highlight the importance of women’s involvement in the cryptocurrency space.

The embattled exchange has encountered numerous challenges in recent times. Binance’s CEO and co-founder, Changpeng Zhao, pleaded guilty to violating U.S. anti-money laundering laws in November 2023. Following these charges, he resigned from his executive position at the cryptocurrency exchange.

Furthermore, the exchange has faced various regulatory hurdles, including a lawsuit from the U.S. Securities and Exchange Commission (SEC), which accused Binance of violating federal securities laws.

The community has responded with widespread criticism towards the Crypto Perfume.

Following the unveiling of Binance’s ‘Crypto’ perfume, critics within the crypto community swiftly denounced the move, labeling it as ‘awkward and sexist.’

Barbara Mahe, co-founder of Paris’ NFT Factory, heavily criticized Binance, accusing the company of hypocrisy in its purported commitment to gender equality.

“A perfume is unlikely to persuade any woman I know to begin investing in crypto,” she expressed on X (Twitter).

Critics within the community lambasted Binance for its apparent misunderstanding of women’s interests. Mario Nawfal, a businessman and CEO of International Blockchain Consulting Group, likened Binance’s perfume release to a hypothetical scenario of McDonald’s launching a french fries-scented perfume. He quipped, “Is it April 1st, and I missed it?”

Numerous users echoed the sentiment, advocating for greater recognition of women and their contributions in the crypto sector instead of focusing on a “crypto” perfume.

Arianna Simpson, a General Partner at Andreessen Horowitz (a16z) specializing in crypto investments, described the campaign as “the most ill-advised move.”

Disregarding the criticisms, Rachel Conlan emphasized that the initiative aims to ensure that women are not excluded from the financial revolution.

She elaborated, “Our dedication to inclusivity goes beyond mere words; we are not merely paying lip service, but taking tangible steps to empower women by offering them the educational tools necessary to shape their financial destinies and actively engage in this digital economy.”


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