Report: Nearly 190,000 people work in the cryptocurrency industry, with approximately 55% residing in North America and Europe.
2023-07-09 14:19
According to a report by K33 Research, the global cryptocurrency industry is home to over 10,000 companies with a total value of $180 billion. As of July 2023, the cryptocurrency industry employs nearly 190,000 individuals. This number represents a significant increase compared to employment statistics before the crypto frenzy began in 2020. In 2021, the number of cryptocurrency employees reached a higher level, approaching 211,000.
Researchers indicate that about one-third of the cryptocurrency workforce is employed in exchanges or brokerage firms. 26% of individuals are hired by companies offering various financial services related to cryptocurrencies.
It is worth noting that only 6% of people are engaged in the NFT field, while 21% work in blockchain protocol, analysis, and mining businesses. Additionally, 13% of employees are involved in cryptocurrency-related jobs that don't entirely fit into any other category.
Analysts obtained the relevant data through methods such as LinkedIn searches, AI-assisted web searches, and manual mapping.
Cryptocurrency companies often opt for remote recruitment to reduce costs. K33 states that the organizational structure of large cryptocurrency companies is typically conducive to remote work, resulting in a globally distributed workforce.
Researchers found that many major cryptocurrency companies choose jurisdictions with favorable regulations and low tax rates as their headquarters. These companies often employ a global hiring strategy, either by establishing local offices worldwide or implementing a fully remote work structure. Such headquarters serve as practical solutions for cost reduction and eliminating logistical barriers. Binance, in particular, is mentioned by analysts, with its headquarters located in Malta but only employing 0.2% of staff from that country.
In the Western world, there is a high concentration of cryptocurrency workers, with approximately 55% residing in North America and Europe. The United States accounts for 29% of this cryptocurrency workforce.
In Asia, India emerges as the leading employer in the cryptocurrency industry, employing 20% of the workforce in the region, primarily in developer-related roles. China remains the second-largest employer, representing 15% of the Asian region's workforce. (Blockworks)
Researchers indicate that about one-third of the cryptocurrency workforce is employed in exchanges or brokerage firms. 26% of individuals are hired by companies offering various financial services related to cryptocurrencies.
It is worth noting that only 6% of people are engaged in the NFT field, while 21% work in blockchain protocol, analysis, and mining businesses. Additionally, 13% of employees are involved in cryptocurrency-related jobs that don't entirely fit into any other category.
Analysts obtained the relevant data through methods such as LinkedIn searches, AI-assisted web searches, and manual mapping.
Cryptocurrency companies often opt for remote recruitment to reduce costs. K33 states that the organizational structure of large cryptocurrency companies is typically conducive to remote work, resulting in a globally distributed workforce.
Researchers found that many major cryptocurrency companies choose jurisdictions with favorable regulations and low tax rates as their headquarters. These companies often employ a global hiring strategy, either by establishing local offices worldwide or implementing a fully remote work structure. Such headquarters serve as practical solutions for cost reduction and eliminating logistical barriers. Binance, in particular, is mentioned by analysts, with its headquarters located in Malta but only employing 0.2% of staff from that country.
In the Western world, there is a high concentration of cryptocurrency workers, with approximately 55% residing in North America and Europe. The United States accounts for 29% of this cryptocurrency workforce.
In Asia, India emerges as the leading employer in the cryptocurrency industry, employing 20% of the workforce in the region, primarily in developer-related roles. China remains the second-largest employer, representing 15% of the Asian region's workforce. (Blockworks)
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