A study commissioned by the National Cryptocurrency Association (NCA) indicates that the U.S. crypto industry is projected to directly provide approximately 34,000 full-time jobs by 2026, and support approximately 232,000 jobs nationwide through vendor networks and employee spending. The report also estimates that the industry will contribute over $55 billion to U.S. GDP, with approximately $31 billion converted into labor income.
There are approximately 34,000 direct jobs.
The research, conducted by the Pragmatic Policy Group and funded by the National Cryptocurrency Association, divides crypto industry employment into two parts: direct jobs within crypto companies themselves and indirect jobs driven by supply chain and employee spending.
According to the report, there are approximately 34,000 direct jobs. Among them, software, blockchain, and data engineering positions are the most numerous, at approximately 10,100; compliance, finance, and business operations positions number approximately 5,450; and senior management and executive positions number approximately 5,100.
Not all 232,000 jobs are in crypto companies
The report emphasizes that the 232,000 jobs do not necessarily mean that many people are directly employed by crypto businesses. Of this total, approximately 75,000 are from the supplier sector, and another 123,000 are from consumer-driven jobs.
According to this model, each direct job in the crypto industry supports approximately six other jobs in the broader economy. These jobs could be found in sectors such as cloud services, legal services, insurance, housing, transportation, and food service.
California and New York have the highest percentages.
In terms of regional distribution, California supports approximately 57,600 jobs, and New York supports approximately 53,800, with these two states combined accounting for nearly half of the national total. Texas supports approximately 26,500, Washington approximately 15,100, and North Carolina approximately 9,524.
This research comes as some crypto companies are still adjusting their staffing levels. The report mentions that Gemini, Crypto.com, and Algorand all announced layoffs earlier this year, Exodus recently cut about a quarter of its workforce during a restructuring around its stablecoin payments business, and Polygon Labs has also reduced some positions.
Additional information:The report uses an industry-wide economic impact model, rather than real-time statistics on the total number of employees across all companies. The study utilizes 2024 input-output tables from the U.S. Bureau of Economic Analysis, data from the U.S. Bureau of Labor Statistics, and U.S. crypto industry revenue estimates provided by Statista.
