Exploring the making of crypto-masculinity in an era of decentralized money in Thailand

Abstract

This article explores how Thai men construct and perform masculine identities through cryptocurrency trading, using the concept of crypto-masculinity to examine how digital finance becomes a site for gendered self-making. While existing scholarship on masculinity in financial contexts often centers on transnational business masculinities in Western corporate settings, little attention has been paid to how masculinity is enacted in decentralized, digital financial spaces, particularly in non-Western contexts. Addressing this gap, this article draws upon in-depth interviews with 21 male traders in Thailand to analyze how masculinity is shaped by the internal instability of masculinity and local cultural norms. This study identifies three key themes through which Thai men's subjectivity is negotiated: valorizing failure, homosociality, and ‘becoming a good Thai man.’ As a result, this article challenges assumptions about the naturalized links between men and finance, suggesting the need for further research on how exclusions within digital finances are taking place to better support equality on crypto platforms.