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“For women taking control of their financial future”

-Jana Hlistova

From The Purse

In this week’s newsletter, we focus on research by Pantera Capital about gender compensation in the crypto sector (US).

Women in crypto tend to earn 15% more on average than men, according to their research. However this can largely be explained by the fact that these women are more experienced and join at a more senior level, compared to most men.

Based on the most recent data from 2023, the median gender pay gap in the UK is 13.26%. And in the US, the median gender pay gap is 16.39%.

But keep in mind that the financial services industry has one of the worst gender pay gaps across all industry sectors, especially as it relates to bonuses.

In the UK, in financial services, the median gender pay gap is around 30%. Whilst the median bonus gap is around 59%+.

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And you can review the news in brief so you stay on top of global financial, economic and investing trends.

I hope you enjoy this week’s newsletter.

Until next week,

Jana

Women in crypto: new insights on compensation

Research from Pantera Capital highlights gender compensation trends in the crypto industry (US).

Recent research from Pantera Capital has revealed some intriguing trends regarding women's compensation in the crypto sector (US).

Key Findings

* Women in crypto earn 15% more than men based on median base salaries.

* The study surveyed 502 participants across the crypto industry.

* For every pound a man earns, a woman in crypto generally earns £1.15.

Analysing the Data

Experience and Seniority

Pantera Capital's research suggests that women in crypto tend to be:

* More experienced

* Often in mid-level to senior positions

* Typically have over five years of experience in similar roles

In contrast, a larger proportion of men occupy entry-level positions in the industry.

The "Lindy Effect" in Crypto

The study introduces an interesting concept:

* Women in crypto are considered "Lindy" – a term suggesting that women who have overcome industry hurdles possess valuable qualities.

* These qualities include resilience and high competence, which may contribute to higher compensation.

Why This Matters

* Industry leadership: The crypto sector is showing a promising trend in addressing gender pay disparities, setting an example for other tech and finance industries.

* Attracting talent: These findings could encourage more women to consider careers in cryptocurrency and blockchain technology.

* Diversity and innovation: Increased gender diversity in the crypto space could lead to more innovative solutions and broader industry growth.

Looking Ahead

While this research is encouraging, it is important to remember that the crypto industry is still evolving. We need to:

* Continue monitoring these trends to ensure they persist and expand.

* Encourage more women to explore opportunities in crypto and blockchain.

* Support initiatives that provide education and resources for women in this field.

What next? (Re) listen to The Purse Podcast:

* #27: Report: Women in crypto with Marina Spindler

* #31: Blockchain, crypto, DeFi and how women are innovating with Bridget Greenwood

* #45: Why women need to design, build and invest in crypto and Web 3.0 with Fiona O'Donnell McCarthy

News in Brief

Financial news

* Fear Index Vix dropped 27.3% this week, most since Nov 2023 as recession fears have faded and bulls are firmly back in control of the narrative.

* Gold prices hit ATH of $2,500 fuelled by a lower US dollar and lower US Treasury yields. Year-to-date, Gold is up 20.7%, setting the stage for its strongest annual performance since 2020 when it gained 25.1%.

* US 2 year yields plunge to 3.95% as the Federal Reserve’s Jay Powell says ‘time has come’ to cut interest rates. Says Fed doesn’t seek, welcome further cooling in labor market.

* US payrolls marked down by 818,000 for the 12 months through March or around 68,000 less each month; the most since 2009.

* The US Treasury has become a key driver of stocks and other asset markets through its pro-cyclical issuance of debt and the increasing depth and liquidity of repo markets.

* The pound was up at its highest level in over a year, based on the growing prospect of a US interest rate cut next month.

* ETFs are eating the world: Active mutual funds have continued to experience outflows YTD. There have been $220bn of outflows from active mutual funds YTD, compared with $284bn of inflows to passive ETFs. Notably, “active” ETFs have experienced $48bn of inflows.

Crypto: bitcoin, ethereum, DeFi

* Bitcoin rallies as the Federal Reserve’s Jay Powell’s remarks sink bond yields and the US dollar. Bitcoin is now trading at $63,000+

* Ethereum's price also jumped on the news from the Fed-the price of the second-biggest coin ended the week at $2,750 after increasing 6% in seven days.

* The price of Solana also jumped on Friday. SOL is up nearly 10% over the week to $153 per coin.

* TON Price plunges 17% after Telegram CEO Pavel Durov arrested in France.

* BlackRock's Ethereum ETF hits $1bn in net gains, nearly tripling Fidelity.

* Grayscale launched a new crypto trust, giving investors exposure to Avalanche. The asset is now trading for $26.30, having jumped 28%.

* Kamala Harris supports policies to expand crypto industry, aide says.

Coffee Break? Read This

* Why you feel under-appreciated at work

* Let’s stop calling them “soft skills” — and call them “real skills” instead

* The end of menopause: would women be healthier and happier if they menstruated for ever?

We’d love to hear from you. Get in touch with Jana via the The Purse website or tweet @jointhepurse and janicka. We do no provide investment advice. Please do your own research or speak to a financial adviser.

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