SheVerified: Alena Afanaseva, CEO & Founder of BeInCrypto, on Global Expansion and the Future of Crypto Media

Alena Afanaseva is a driving force in the world of cryptocurrency media: as the CEO and founder of BeInCrypto, she heads a global platform that provides timely news and insights on blockchain and digital currencies. With a background in finance and journalism, she is committed to providing accurate information and educational resources for both experts and beginners. Under Afanaseva’s leadership, the platform has become a go-to source for up-to-date news and educational content in the industry.

To mark BeInCrypto’s sixth anniversary, we sat down with Alena Afanaseva to discuss the company’s growth, the biggest challenges facing the industry, and the future of crypto journalism.

Looking back over the past six years, what’s a standout moment for you as the CEO of BeInCrypto?

A standout moment for me was when I realized just how much we had grown. We started six years ago as a team of four, with a startup vibe — fast decision-making and a flat hierarchy. Year after year, we kept expanding, adding more languages and products, without really noticing how big we were getting.

And then there was one month when we hired 40 people, and that’s when it hit me — during the first year we had no more than 30 team members in total, and now we are adding the same amount on a monthly basis! Honestly, at that time we did not even have any HRM system, so I was not aware that we already had 150 people working for us from over 60 countries.

What were some of the toughest challenges you faced in scaling the company, and how did you tackle them?

In 2020, exactly the time I described earlier we actually hit a crisis. Our internal processes — procedures, corporate culture, Slack chats, role definitions — had become a mess. What worked when we were a small team was starting to break down once we grew past 100 people. It created a lot of confusion and even some drama.

That was the moment I understood it was the time to evolve into a more mature company. That’s when we decided to establish an HR department.

Step by step, we defined roles and responsibilities, developed procedures that were flexible enough for our decentralized team, and set clear stages for onboarding and offboarding. It was a turning point, and it came just in time, helping us build a stable, loyal core of crypto enthusiasts before the bear market hit.

It was not an easy process — it took us about one year and brought many changes to the team, but that was also the time of great insights. We finally saw clearly all the geography of our presence, the diversity of gender, demographics and nationalities. Now, I can proudly say that women make up 39% of our team, and an impressive 53% are in leadership roles. Our youngest team member is 16, and the oldest is 63.

The crypto industry is known for its quick changes. How has BeInCrypto stayed ahead, and what trends do you think will shape the future of crypto journalism?

The only way to keep up in such an unpredictable environment is to be ready for constant change. That’s the culture at BeInCrypto — we test everything, figure out what works, and scale it quickly.

Right now, the biggest trend is AI. It’s already affecting audience behavior, Google’s strategy, and even how journalists create content. We don’t know exactly how things will play out next year, but the environment will be completely different. Nothing from the last 10 years of crypto journalism will stay the same, and many current approaches will become outdated.

When we first started, we were an English-only news outlet, during a time when there were few sources for crypto content. We focused on explaining Web3 developments in simple terms, which resonated with a non-technical audience eager to learn about the new technology.

The next stage was the decision to expand into more languages in regions with high crypto adoption, adding the first 4 in 2019, and reaching 20 in total at the time of writing! While increasing the number of languages, we also started experimenting with different types of content focusing more attention on educating our readers and providing more data based content and explanatory articles.

This is when our Learn was added to the ecosystem of products. We gradually transitioned from an English-only news outlet to a multilingual media platform, offering a wide range of content and aiming to support our readers with everything they need.

The market and the audience is changing. Projects are becoming more mature, and new products and concepts are tested every year. There’s a much greater demand for sophisticated analysis and data now — you need to be fast, reliable, and insightful to stand out.

How do you make sure your content resonates with your audiences across different cultures and regions?

We’re a data-driven company, so we track our performance daily and stay connected with our audience through polls, interviews, research, and social media. Each local team also has the freedom to run their own tests and bring new ideas, which they share with the rest of the company.

As I mentioned, we now cover news in 20 languages. While challenging, this provides valuable insights into regional trends. For example, what’s popular in Latin America may not be as relevant in Europe. Stablecoins are crucial in countries like Venezuela, Argentina, and El Salvador, where they help people hedge against inflation.

In contrast, Europe tends to focus more on volatile, riskier assets to grow income in a low-interest-rate environment. We also observe similar differences across Asian markets.

As a female leader in a male-dominated industry, what unique challenges have you faced, and how have you turned them into opportunities?

The challenges I’ve faced have been both subtle and direct. Early on, there were times when my expertise was questioned or I was underestimated simply because of my gender. But instead of letting that shake my confidence, I used it as motivation to push even harder and prove my worth.

One of the biggest challenges is the lack of representation. When you’re one of the few women in the room, it can feel isolating. However, I’ve learned to see it as an opportunity. Being different in this industry lets you think outside the traditional frameworks, challenge the status quo, and bring new ideas to the table.

This has allowed me to lead in a more inclusive, collaborative, and ultimately innovative way. I encourage the same within BeInCrypto — what matters most is expertise and professionalism, regardless of nationality, age, or gender.

With a diverse and largely remote team, how do you maintain a strong company culture and keep everyone motivated?

We put a lot of effort into building our company culture, though with such a diverse team, there’s always room to improve. My key principle is transparency — being open about our vision, goals, and the challenges we face.

Last but not least, we offer clear path of career growth and many other opportunities to expand your field of expertise starting with industry conference participation, speaking opportunities and ending with the internal HR programs to support the most talented ones.

What’s the biggest lesson you’ve learned as an entrepreneur in the crypto space, and how has that shaped you?

The biggest lesson I’ve learned is that everything comes down to the team. It’s crucial to surround yourself with people who are smarter than you, who inspire you, and who can drive change by seeing opportunities rather than just risks.

Another key lesson is taking responsibility. I’m accountable for every decision I make at BeInCrypto and the outcomes of those decisions, and I expect the same level of responsibility from the leaders within our company.

As you look ahead, what are your main goals for BeInCrypto in the coming years, and how do you plan to achieve them?

We want to keep expanding into new markets, test new products, and turn our media platform into a one-stop shop for crypto-related products and services. The ultimate purpose behind all of this is to give people around the world equal access to new technologies and the chance to participate in building a new world based on freedom, transparency, and flexibility.

On the technical side, I’m particularly excited about BeInMarkets, a product we’re launching now. BeInMarkets will offer in-depth data on cryptocurrencies and trading opportunities, helping users shape their portfolios and explore different trading strategies. The first stage will launch in 2024, but the most exciting developments are planned for 2025.

We’re also starting to finalize our vision for the BeInCrypto mobile app. We’ve had long discussions about it, and I’ve always been skeptical of just creating a news app — most people use Google or social media to search for news. News apps concept looks obsolete to me. I do believe that in the near future people will reduce their content consumption to tools like ChatGPT.

Our app needs to offer something unique, like a personalized assistant that simplifies your crypto journey based on your interests and strategies. We’re still shaping the vision and gathering feedback from the team to make sure it’s useful and up-to-date.

Finally, as a veteran of the industry, what advice do you have for aspiring entrepreneurs?

Never stop believing in yourself and your power. It is contagious.