{"id":119987,"date":"2023-07-09T15:04:12","date_gmt":"2023-07-09T15:04:12","guid":{"rendered":"https:\/\/dripp.zone\/news\/nearly-190k-people-work-in-crypto-more-than-50-located-in-the-west-crypto-news\/"},"modified":"2023-07-09T15:04:14","modified_gmt":"2023-07-09T15:04:14","slug":"nearly-190k-people-work-in-crypto-more-than-50-located-in-the-west-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/nearly-190k-people-work-in-crypto-more-than-50-located-in-the-west-crypto-news\/","title":{"rendered":"Nearly 190K people work in crypto, more than 50% located in the West\n – Crypto News"},"content":{"rendered":"

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The cryptocurrency industry boasts nearly 190,000 employees as of July 2023, new data from K33 Research shows.<\/p>\n

This represents a notable increase when compared to employment statistics prior to the crypto frenzy that began in 2020. <\/p>\n

Crypto had a higher employment count in 2021, almost 211,000 individuals, which coincided with higher prices and company valuations, according to the reports<\/a>,<\/p>\n

Around one-third of the crypto workforce is at exchanges or brokerages, emphasizing their crucial role within the industry, according to the researchers. <\/p>\n

Another 26% are employed by companies offering a diverse range of financial services related to cryptocurrencies.<\/p>\n

Notably, only 6% of individuals are engaged in the field of NFTs, whereas 21% contribute their skills to blockchain protocols, analytics and mining operations. <\/p>\n

Finally, the remaining 13% of employees are involved in cryptocurrency-related jobs that do not fit neatly into any of the other categories.<\/p>\n

The analysts obtained their data through methods including LinkedIn searches, artificial intelligence-assisted web searches and manual mappings.<\/p>\n

Crypto companies typically hire remotely to reduce costs. <\/h2>\n

The organizational structure of large crypto companies often facilitates remote work, resulting in a globally distributed employee base, per K33.<\/p>\n

Researchers found many major crypto companies have chosen jurisdictions with favorable regulations and lower tax rates as their headquarters.<\/p>\n

These companies typically adopt a global employment strategy by either establishing local offices worldwide or implementing a fully remote work structure. <\/p>\n

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<\/div>\n<\/div>\n<\/figure>\n

Such headquarters function as a practical solution for minimizing costs and eliminating logistical barriers.<\/p>\n

The analysts specifically mentioned Binance, noting that it is headquartered in Malta, but only 0.2% of its employees actually hail from the island country. <\/p>\n

Chinese professionals still contributing to crypto in a big way<\/h2>\n

There’s an over-representation of crypto workers in the Western world, with approximately 55% residing in North America and Europe. Within this figure, the US accounts for 29% of the crypto workforce. <\/p>\n

In Asia, India has emerged as the leading employer in the crypto industry, with 20% of the regional workforce leaning towards developer-related roles.<\/p>\n

Despite China’s historically hostile stance on the crypto industry<\/a>it’s still the second-largest employer in Asia at 15% of the region.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency industry boasts nearly 190,000 employees as of July 2023, new data from K33 Research shows. This represents a notable increase when compared to employment statistics prior to the crypto frenzy that began in 2020. Crypto had a higher employment count in 2021, almost 211,000 individuals, which coincided with higher prices and company valuations, […]<\/p>\n","protected":false},"author":2,"featured_media":119988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-119987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119987","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=119987"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119987\/revisions"}],"predecessor-version":[{"id":119989,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119987\/revisions\/119989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/119988"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=119987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=119987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=119987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}