Bizarre revelation in crypto employment data

As the crypto industry grows, employment in the sector will automatically increase with it. In that respect, it is a nice illustration of how the landscape currently stands. Research platform K33 has a new report the current state of affairs with some surprising results.

Crypto jobs

Not entirely against expectations, the total number of employees within the crypto country has decreased compared to 2021. Employment is of course somewhat dependent on the state of the market and no matter how you look at it, bitcoin (BTC) is currently still well below its absolute peak of about $69,000. The crypto market has had a tough 2022 and that is strongly reflected in the data.

Currently, the counter in terms of the number of employees would be at 190,000, but in 2021 there will be almost 211,000. The high prices and company valuations allowed companies to expand considerably in the workforce at the time.

About a third of all industry employees are at crypto exchanges or brokers, highlighting their critical role within the industry, according to the K33 researchers. Another 26 percent are employed by companies that offer a wide variety of crypto-related financial services.

Furthermore, 21 percent contribute to blockchain protocols, analytics and mining operations. Only 6 percent of all individuals are active in non-fungible tokens (NFTs) and the remaining 13 percent do not fall into any of these listed categories.

The analysts obtained their data through methods such as LinkedIn searches artificial intelligence (AI) assisted web and manual searches mappings.

China makes a significant contribution

When looking specifically at the geographical distribution of employment, a clear dominance of the Western world can be seen. 55 percent of the employees would live in North America and Europe. The United States accounts for a total of 29 percent of the total crypto workforce.

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In Asia, India emerged as the leading employer within the crypto industry with 20 percent of the regional workforce. Remarkably, China, which is known for its historically hostile attitude towards the crypto world, comes out as the number two in Asia.

Since 2021, both crypto trading and mining have been banned in China. Nevertheless, 15 percent of all crypto workers in Asia currently work in China.

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