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Crypto industry employment report

11 Jul, 2023
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How many people are working in this field? What is the capitalisation of the companies rather than the tokens? Which region is the leader in employment? Detailed answers to these questions were prepared by the analytical agency K33 Research.

Image source: k33.com

Today, the crypto industry comprises 10,000 companies with a total estimated value of $180 billion. At its peak, the number of employees reached 211,000 in 2021, though the industry now employs 188,000.

Image source: k33.com

A distinctive feature of the crypto industry is the high proportion of employees working remotely, all around the world, without being tied to the company's headquarters. For example, the largest crypto exchange, Binance, is based in Malta, yet the majority of its employees work out of Nigeria.

Image source: k33.com

When it comes to the industry as a whole, the largest number of those employed by the crypto industry reside in Asian countries (including Australia). After China's regulatory tightening, leadership in the region has shifted to India. Globally, however, India is in third place at 7% after the US (29%) and the UK (24%).

Image source: k33.com

By line of business, the largest number of people are employed in companies focused on trade and investment services. The NFT sector, on the other hand, is among the outsiders since turnover has fallen 90% from historic highs.

Image source: k33.com

In general, however, the crypto industry job market correlates with the overall capitalisation of cryptocurrencies. In periods of growth, companies expand and increase staff. When a crisis strikes, they reduce their workforce.

Image source: StormGain cryptocurrency exchange

Market participants are now preparing for a new bullish cycle, as evidenced by the growth of institutional interest and the approaching reversal of the Fed's monetary policy. This will eventually affect the job market, as well, with the total number of employees in the crypto industry capable of hitting 300,000 by 2025.


StormGain Analytical Group 
(platform for trading, exchanging and storing cryptocurrency)

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