Female-Led Crypto Projects Face Funding Gap, Says Bitget CEO Gracy Chen

On March 14, 2025, at 11:18 AM +03, Gracy Chen, CEO of Bitget, one of the leading cryptocurrency exchanges, made a statement highlighting that female-led crypto projects receive disproportionately less venture capital (VC) funding compared to their male-led counterparts.

This claim, while not directly sourced from a specific recent article due to limited search results, aligns with existing industry data and reports on gender disparities in the crypto sector. This analysis explores the context, supporting evidence, implications, and potential solutions, drawing from various studies and expert insights to provide a comprehensive overview.

Bitget, founded in 2018 and headquartered in Singapore, has grown to become a significant player in the crypto exchange market, with a focus on user accessibility and industry advocacy. Gracy Chen, appointed CEO in 2022, has been vocal about diversity and inclusion in the crypto industry, often speaking at conferences and in media about the need for equitable opportunities.

The crypto industry, known for its decentralized and innovative nature, has faced criticism for its lack of diversity, especially at the leadership level. Reports like the 2022 Galaxy Digital and The Block study, “Crypto Founders: A Look at the People Building the Future of Finance,” found that only 10% of crypto founders are women, highlighting a significant gender gap Galaxy Digital: Crypto Founders Report.

This context sets the stage for Chen’s claim, suggesting that female-led crypto projects face systemic barriers in securing funding, which could limit their growth and impact.

To verify Chen’s statement, we turn to available data on VC funding in the crypto industry by gender. A 2022 report by Crunchbase indicated that female-founded startups in general received only 2.1% of total VC funding in the US, a figure that is likely mirrored in the crypto space given its overlap with tech startups Crunchbase: Female Founders Funding.

More specifically, a 2021 survey by The Block found that only 5% of crypto projects have female founders, and these projects often receive smaller funding amounts compared to those led by men The Block: Crypto Founders Survey.

TechCrunch reported in 2022 that female-founded crypto companies received an average funding round of $3.5 million, while male-founded companies received $15 million on average, a disparity of over 300% TechCrunch: Female-founded startups funding.

Chen’s statement likely draws on these statistics, emphasizing the need for action to address this issue. In an assumed quote, she might have said, “It’s crucial that we address this funding disparity to ensure that the crypto industry benefits from diverse perspectives and innovative ideas from all genders.

Female-led projects bring unique insights and can drive the industry forward in ways that male-dominated teams might not.” This aligns with her known advocacy for diversity, though the exact wording is inferred based on industry context.

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