Crypto Jobs Span U.S. as Hubs Spring Up From Miami to Denver
The crypto job market in the U.S. is mirroring the decentralized ethos of the industry itself -- it’s everywhere.
New York, San Francisco and Los Angeles have the largest shares of crypto hires this year, followed by the Miami and Chicago metropolitan areas, according to a new ranking based on LinkedIn data. But the remaining 53% of crypto jobs in the study were dispersed elsewhere in relatively small chunks, the data show.
The study, provided by LinkedIn at Bloomberg’s request, shows that the industry hasn’t settled on a single hub like finance in New York, tech in San Francisco and movies in Hollywood. It’s the result of a culture where many crypto entrepreneurs will often hold themselves out as renegades who reject traditional boundaries. At the same time, the global pandemic has shown white-collar work can be done from anywhere.
“Crypto companies are an extreme version of tech, where the ethos of their work is about being decentralized,” said Seattle-based Diogo Monica, co-founder of crypto technology services company Anchorage Digital, which is hiring for remote jobs around the world. “This means cities and states with lower taxes, great infrastructure, and quick access to an international airport will benefit from fully remote work.”
A crypto hire is any LinkedIn member who started a new job with titles including the keywords “crypto,” “blockchain,” “Bitcoin,” “Ethereum,” or “Solidity” -- the latter being a smart contract programming language used for blockchain technology. The data is meant to serve as a rough proxy for the broader crypto job market, but by design, it will only capture crypto specialists, and not, for instance, a human resources worker for a crypto company. The study covers the first nine months of the year.
Adjusting for population, crypto is having a clear impact on mid-sized metropolitan areas. The amount of total jobs pale in comparison to larger cities, but per capita the job creation is sizable. Two or more people were hired for crypto jobs this year for every 100,000 LinkedIn members in Austin, Texas; Denver; Raleigh, North Carolina; and Salt Lake City.