A recent report suggests the cryptocurrency industry employs almost 200,000 people across 10,000 companies valued at $180 billion collectively.
The study, released this month by the research firm K33, provides a snapshot of the current state of the cryptocurrency sector. According to the report, about 190,000 people work in cryptocurrency worldwide as of July 2023. This is a decline from an estimated 211,000 workers in 2021, indicating the volatility of the emerging industry.
With an estimated 48,500 employees, brokerages and cryptocurrency exchanges make up the largest share of jobs. About 40,000 people work in mining and blockchain analytics, while 12,000 are employed in nonfungible token and blockchain gaming businesses. The remaining workers have undefined roles.
The United States and United Kingdom are leading employers, with 30 percent of cryptocurrency jobs based in America and a third located in Britain. Asia follows closely behind, with 35 percent of the global cryptocurrency workforce spread across countries like India, China and Australia. Africa makes up 4 percent, with Nigeria and South Africa being the dominant players on the continent.
The report shows how cryptocurrency has become an industry of its own despite market ups and downs. Although volatile, the sector seems to provide employment for nearly 200,000 people and opportunities for both large and small companies. As with the internet boom of the late 1990s, the new and speculative field of cryptocurrency has the potential for huge growth.
