Hiring Frenzy In Cryptocurrency Space Reaches Fever Pitch

On LinkedIn, paid U.S. job postings with keywords like "cryptocurrency" and "blockchain" were up more than 600 per cent from the previous year as of August 1

Hiring Frenzy In Cryptocurrency Space Reaches Fever Pitch

The job market registers the latest boom in cryptocurrencies

Even as regulators tighten their oversight of cryptocurrencies and related businesses, hiring in the industry is reaching a fever pitch. On many employment websites such as Indeed.com, crypto searches are more than double year-ago levels.

On LinkedIn, paid U.S. job postings with keywords like “cryptocurrency” and “blockchain” were up more than 600 per cent from the previous year as of Aug. 1 and almost 400 per cent compared with the same date in 2019. One popular jobs board, CryptocurrencyJobs.co, saw nearly 1,500 per cent growth in paid listings since last year.

The hiring frenzy is happening just as China bans cryptocurrencies -- again -- and U.S. regulators pursue actions against related businesses big and small. The Commodity Futures Trading Commission said on Tuesday that it fined the exchange Kraken $1.25 million to settle allegations that it let Americans illegally trade margin products.

A number of agencies are probing exchange Binance. Coinbase Global Inc. recently axed its upcoming lending product after receiving a Wells notice that said the Securities and Exchange Commission was threatening to sue the company over it.

“Everyone is hiring right now across roles,” Daniel Adler, founder of CryptocurrencyJobs.co, said in an email. “At the beginning of the year, some teams were looking to double in size. Some already have, and are looking to grow further. Hiring is highly competitive. And it's the strongest I've seen since launching Cryptocurrency Jobs in 2017.” 

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Photo Credit: Bloomberg

Top companies hiring in recent months have included Kraken and Coinbase, as well as more traditional firms like Accenture, KPMG, PayPal Holdings Inc. and JPMorgan Chase & Co., according to LinkedIn. Decentralized-finance projects -- those that let users trade, borrow and lend coins without using centralized middlemen -- drove hiring on CryptocurrencyJobs.co, Adler said.

“You'll find most opportunities within the Ethereum ecosystem,” where many DeFi projects live, he said. “Other ecosystems have also emerged and are contributing to the demand, such as Solana. You'll also find more non-crypto companies looking for crypto talent. This is in contrast to previous years when demand for crypto talent was (almost only) limited to crypto startups.”

Many employers not only are offering hefty salaries and bonuses, but also allocations of tokens, Adler said. And people who get the jobs are coming from all walks of life.

“You will find former high school teachers, financial services professionals from Wall Street, college dropouts, lawyers, academics, folks straight out of college, from across tech and industry,” Adler said. “The other great thing about crypto is that it doesn't matter whether you're in Silicon Valley, India or Nigeria, or what your background and credentials are.”

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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