Ten years back, cryptocurrency was a niche concept with limited use cases. Today, it is one of the most popular investment and financial products, with more than 8,000 active digital currencies available in circulation. The expansion of the crypto space is creating a new global workspace in which the United States is leading the charge.
According to BitcoinCasinos.com, the United States dominates the global crypto workspace by nearly 30%. As of July 2023, over 190k people have crypto jobs.
The site’s financial analyst, Edith Reads, comments, “The crypto workspace is expanding quickly, providing significant income for the global population. As crypto acceptance and adoption increases, more exciting job opportunities will come up, offering substantial value to the global community. “
The Global Crypto Workspace
Today, almost 200k have crypto jobs. 60% of which work on crypto trading and investment. Currently, over 62k people work for crypto exchanges and brokerages, 50k work in Crypto financial services, 40k work studying Blockchain technology, protocols, and mining, while 12k work for NFTs.
The United States leads the global crypto workspace, with many of the largest crypto companies established on American soil.
On the other hand, the United Kingdom controls a third of all crypto employment and 30% of European crypto employment. At the same time, France, Germany, Spain, and Italy make up 23% of all European crypto jobs.
Why Has the U.S. Emerged Dominant in the Global Crypto Workspace?
The U.S. has a long history of innovation in finance, and this expertise has been leveraged to create a robust ecosystem for crypto trading and investment. 7 of the 20 largest crypto companies are based in the U.S. These companies, including Coinbase and Binance, have emerged as leading players in the crypto space, recruiting workers from the U.S. and the rest of the world.
The U.S. also has a highly skilled workforce, which has played a vital role in driving innovation in the crypto space. The U.S. workforce is well aware of how crypto works, considering many of the world’s top blockchain and cryptocurrency experts are based in the U.S., and the country’s universities are among the leaders in blockchain research.
However, the regulatory environment remains uncertain and volatile, with the U.S. Securities and Exchange Commission cracking down on fraudulent initial coin offerings and other problematic practices in the crypto space. Some countries are beginning to develop their crypto ecosystems, which could challenge the U.S.’s dominance in the years ahead.
Despite these challenges, the U.S. is well-positioned to remain a dominant player in the global crypto workspace for the foreseeable future. As the crypto industry evolves and matures, the U.S. will likely remain at the forefront of this exciting new frontier.