Report: Crypto-industry jobs fall by 10%

Over the past year, employment in the crypto sector fell by 10% — from 210,000 to 190,000 employees. This is evidenced by the report K33 Research.

According to the report, the industry comprises about 10,000 companies, with a total value of around $180 billion. Approximately 60% of all employees work for firms involved in trading and investing.

Nearly 30% of those employed in digital assets live in the United States. Asia and Australia together account for 35% of the workforce, and India 20%.

Europe accounts for 24% of crypto workers. The United Kingdom leads the region in jobs created — 13,000.

“The overall trend is that many firms have laid off many people, with the exception of [the crypto exchange] Binance,” said Anders Helset, executive director of K33.

According to him, at the end of last year, companies cut many employees, and now the industry is ‘holding on thanks to substantial funding rounds’.

Over the past year, layoffs were announced at Robinhood, Dapper Labs, Polygon, Magic Eden, Protocol Labs, Bittrex, Luno, Blockchain.com, Huobi, Bybit, STEPN, TrueLayer and others.

Back in July, Binance left several top executives — Chief Strategy Officer Patrick Hillmann, Senior Vice President of Regulatory Compliance Steven Christie, and Chief Legal Officer Han Ng. The head of the platform, Changpeng Zhao, described the situation as ‘normal turnover’.