- The industry now employs 190,000 people
- In 2022, that number was 210,000 workers
- But the cuts did not affect the Binance exchange
Last year K33 Research published a report on employment in the cryptocurrency industry.. According to the study, the number of workers in this sector has decreased by 20,000, and now stands at 190,000. people, compared to 210,000. in 2022.
The head of K33, Anders Helseth, said:
“Many workers have become unemployed, while many companies are surviving thanks to the large amounts of funding that were received in early 2022.”
The report stresses that there are currently about 10,000 companies in the cryptocurrency and blockchain industry, with a total valuation of about $180 billion. Approximately 60% of all workers in this sector are employed in companies focused on trading and investment. Only 6% work in the NFT sector, and 21% are involved in blockchain protocol development, analytics and mining.
Helseth also talked about the Binance exchange. He stated:
“The general trend is that many companies have reduced their headcount, with the exception of Binance. This was despite recent headlines about layoffs and layoffs at companies, as well as the exchange’s announcement of a 30 percent hiring increase in early January 2023.”
Although the number of cryptocurrency workers is about 190,000, nearly 30 percent of them reside in the United States. This trend is likely to continue, since the U.S. is considered the “center of gravity of the crypto-industry. The combined Asian-Australian region accounts for about 35% of the global cryptocurrency workforce, with 20% from India.
In Europe, global cryptocurrency jobs account for 24%, with the UK leading the region with 13,000 jobs.