As per a recent study by crypto intelligence firm K33 Research, the global cryptocurrency industry is an impressive powerhouse. Valued at a staggering US$180 billion, it supports over 100,000 jobs across over 10,000 enterprises. Notably, these figures would have been even more substantial if the industry’s value was considered at its 2021 peak.
However, this revelation comes at a challenging time for the crypto industry. Major crypto exchanges like Binance face intense scrutiny from financial authorities worldwide, casting a cloud over the industry’s success.
The study further uncovers some intriguing insights into the geographical distribution of crypto employment. Interestingly, Singapore and Hong Kong emerged as the leading crypto employment hubs, housing 35% of the global crypto workforce. This totals 65,900 individuals contributing to the industry’s growth in these regions.
Binance, currently facing investigations, nonetheless remains the largest employer in Asia, boasting 3,400 employees. Close on its heels is the OKX exchange, employing 3,000 individuals, while Crypto.com follows with a workforce of 1,900.
Asia’s vibrant crypto employment landscape extends beyond these regions. India, for instance, hosts 20% of the crypto industry’s workforce. Similarly, despite its openly hostile stance towards crypto, China accounts for 15% of the industry’s workers.
Contrarily, the United States, considered a primary jurisdiction for the crypto sector, is home to only 29% of the global crypto workforce. This includes about 60,700 individuals in North America and 8,400 in South America.
The robust value and employment figures from K33 Research highlight the cryptocurrency industry’s economic potential. Despite regulatory challenges, regions like Asia are thriving hubs for crypto employment. It remains to be seen how the industry navigates these challenges and continues its growth trajectory.
