Does crypto have a misogyny problem? #hearsay sushi, models, and Copper Technologies | Opinion

Cryptocurrency world's dark underbelly revealed in #hearsay, where a culture of misogyny and greed prevails. Copper Technologies' sushi model kerfuffle exposes the seedy side of crypto, with scantily clad women serving as platters at an exclusive party hosted at the infamous Mandrake Hotel in London. The industry's lack of gender diversity and tolerance of toxic behavior raise concerns about its future.

Crypto's Sordid Underbelly: Where Misogyny and Degeneracy Reign Supreme

Picture this: a dimly lit, red-lacquered room in a seedy hotel. A group of men clad in hoodies and business suits, some sporting sunglasses, hover ominously around a table. But this isn't a scene from a Hollywood casting couch in the 1990s; it's a glimpse into the grotesque world of #hearsay, a weekly gossip column that delves into the depths of crypto's shadowy underbelly.

In this latest episode, we uncover the sordid details behind the infamous sushi platter incident, where the digital asset manager Copper was caught using scantily clad models as serving platters at their Digital Asset Summit afterparty. The backdrop? London's notorious Mandrake Hotel, owned by none other than Rami Fustok, the Lebanese party boy turned hotel entrepreneur. Welcome to the realm of underground crypto 'bro' culture, a cesspool of misogyny and debauchery.

Copper Technologies, the digital asset company hosting the party, is hardly a paragon of social justice. The company has been linked to weapons dealers and sanctioned bankers from Russia. In 2023 and 2024, Jonatan Zimenkov and Mikhail Klyukin, both sanctioned by the UK and US authorities, engaged in transactions with Copper exceeding $4.8 million and £15 million (approx. $18.9 million), respectively.

Cryptocurrency, as it stands today, is a sausage fest, a testosterone-fueled echo chamber where women are as elusive as a Bitcoin in a bear market. And what's worse, they often bear the brunt of outright abuse.

In 2018, Laura Shin, a renowned cryptocurrency journalist and host of the "Unchained" podcast, shared her experiences with relentless online harassment and threats from within the crypto community. She has documented countless instances of misogynistic comments and derogatory messages directed towards her on social media platforms. In a particularly vile incident, Jeremy Cahen (Pauly0x), a self-proclaimed crypto influencer with a history of controversy, called Shin a "whore" in a virtual space after she canceled (later postponed) an interview with him.

Cahen's actions underscore the rampant toxicity that permeates the cryptosphere. His Twitter account remains active, despite his venomous attacks against Shin. Women in crypto are not simply marginalized; they are actively targeted and silenced.

The Tron (TRX) token, launched in 2018, faced waves of criticism when it partnered with a blockchain-based porn platform. Since the inception of crypto, women have been relegated to the sidelines, objectified rather than respected.

Walk through any crypto conference from Singapore to Miami, and it's clear that men dominate the landscape. Industry companies should face scrutiny for their lack of gender diversity in executive teams and boardrooms. The evidence is irrefutable; this is where decentralized governance should shine—promoting greater equality and equilibrium in markets and participation.

Yet, there are exceptions. Last weekend, DeSci in London featured an all-female panel with representatives from AthenaDAO, AsteriskDAO, and HairDAO. In London, web3-focused events may be more inclusive, as the city's crypto bros flock to the Mandrake Hotel for their female-plated sushi debauchery.

At Crypto.news, my boss, Catherine Mychka, reminds me that my EU shift is dominated by male writers. The evidence is undeniable—we men are in the majority. But this toxic male culture doesn't just affect women; it stifles innovation and perpetuates a culture of greed.

Making it in crypto is nearly impossible without certain inherent advantages: access to stable internet, food, shelter, quality education in math and coding. When keynote speaking engagements are filled with self-proclaimed evangelists, who resemble nothing more than foul-smelling, obnoxious frat boys, it creates a toxic echo chamber that permeates the entire industry.

Back when I first ventured into crypto, I believed I was joining a utopian movement that would bring forth a world of decentralization and empowerment. Instead, I've witnessed a Kafkaesque nightmare, an industry cannibalizing itself with greed and misogyny. It's not innovation that drives crypto, but rather a twisted Silicon Valley 2.0 logic personified by a homogenous group of privileged white men.

Diversity fosters innovation. More voices, perspectives, and ideas lead to exponential growth and progress. The crypto 'bro' culture, on the other hand, stifles creativity and reinforces a culture of exclusion and abuse.

As I savor my sushi from a regular plate, I'm struck by a sobering thought: am I part of the problem? Or could the future of crypto, now consumed by greed and misogyny, be replaced by a more equitable and innovative world where we're talking about SushiSwaps instead of sushi rolls served on female bodies?