Metropolises led cryptocurrency-related hiring in the United States during 2021, but jobs in the space are well dispersed across the country, LinkedIn data revealed.
A new study conducted by LinkedIn for Bloomberg shows that there is no single center for crypto or blockchain specialists in the United States. Searching through LinkedIn members in the US who listed a new job in the first nine months of the year that matched keywords crypto, blockchain, Bitcoin (BTC), Ethereum or Solidity revealed that about 53% of crypto jobs are scattered across the States in small chunks.
With cryptocurrencies and blockchain at the intersection of finance and technology, New York's traditional financial hub and San Francisco tech, unsurprisingly, led the pack. Los Angeles ranked third, followed by Miami and Chicago.
Diogo Monica, co-founder of encryption technology services company Anchorage Digital, highlighted that decentralized organizational structures are driving a remote workforce, especially among crypto companies. "This means that cities and states with lower taxes, great infrastructure and quick access to an international airport will benefit from completely remote work," he added.
When adjusted for population, the impact of the crypto industry on midsize metropolitan areas becomes clearer: For every 100,000 LinkedIn members, at least two people were hired for such crypto jobs in Austin, Denver, Raleigh, and Salt Lake City. For example, New York leads hiring with 18.3% market share, but hired an average of 2.8 people per 100,000 LinkedIn members, while Austin, Texas, hired three people for the same scale at even though the city has a 2% stake.
Related: Survey Finds Lower-Paid Workers Are Quitting Their Jobs Thanks To Crypto Profits
US cities are also doing their best to attract the crypto industry. Newly elected mayor of New York City, Eric Adams, shared his plans to make the city the center of the cryptocurrency industry. He also followed The example of the mayor of Miami, Francis Suรกrez by stating that you will take your first three paychecks in Bitcoin.
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