Crypto Blog
In a report released earlier this week, Coinbase expressed concerns over the declining crypto talent in the US amidst the ongoing increase in general corporate interest.
On the other hand, smaller businesses have expressed interest in looking for crypto-savvy candidates to fill future roles in IT, tech, finance, and legal departments. About 68% of small companies believe blockchain and cryptocurrency can address major financial pain points: processing time and transaction fees.
Despite an apparent decline in crypto developers, the US is seeing a significant increase in on-chain projects. For instance, the number of Web3 initiatives by Fortune 100 companies has increased by 39%. Moreover, about 56% of executives of Fortune 500 companies mentioned that their entities are working on on-chain projects like consumer-facing payment applications.
“The increased activity underscores the urgency for clear rules for crypto that help keep crypto developers and other talent in the US, fulfill crypto’s promise of better access, and enable US leadership on crypto globally.”concern regarding the strict stance of the Biden administration and Gary Gensler on Bitcoin and digital assets. She cautioned that this approach might lead the industry to move overseas, potentially impacting America’s leadership in financial innovation.
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