A group of five deputies from the U.S. House of Representatives requested data on the diversity and inclusion practices of 20 major firms dealing with cryptocurrencies and Web3. Here are the details…
Information requested from crypto money companies in the USA
In a Thursday statement, Maxine Waters, chair of the House Financial Services Committee, along with Representatives Joyce Beatty, Al Green, Bill Foster, and Stephen Lynch, wrote a letter asking US-based crypto companies to provide information on “how and whether the industry is working more fairly.” . Deputies; Aave sent letters to 20 companies, including Andreessen Horowitz, Binance.US, Circle, Coinbase, Crypto.com, FTX, Gemini, Haun Ventures, Kraken, OpenSea, PancakeSwap, Paradigm, Paxos, Ripple, Sequoia Capital, Stellar Development Foundation, and Tether .
So, altcoins that could be affected include AAVE, Binance Coin (BNB), Circle’s USD Coin (USDC), Cronos (CRO), FTX Token (FTT), PancakeSwap (CAKE), Ripple (XRP), Stellar (XLM) and Tether (USDT). The deputies used the following statements:
There is a lack of publicly available data to effectively assess diversity among America’s largest digital asset companies and investment companies with significant investments in these companies. We believe transparency is a critical first step towards achieving racial and gender equality.
Companies have until September 2
According to a sample letter, House representatives requested diversity, inclusion data and policies from 20 firms as of January 2021. The investigation appeared to have been made in response to inquiries in 2020 and 2021 that the House Financial Services Committee concluded. Lawmakers asked companies to respond by September 2.
Data from other groups seemed to support the conclusions reached by US lawmakers. Digitalundivided’s 2020 report showed that Black women and Hispanic entrepreneurs received less than 1 percent of venture capital investments. Crunchbase reported that 0.9 percent of female company founders in fintech tap into venture capital funds.
Jenny Guo, co-founder of Metaverse platform Highstreet, said, “Web3 by default is heavily dominated by men, and we don’t currently see a lot of female-focused brands entering this space. However, similar to the tech industry, more and more female creatives will join the industry over time.” she said.
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