The global cryptocurrency industry is valued at US$180 billion, with over 10,000 companies employing a total of 190,000 employees, according to a July 5 report from crypto intelligence firm K33 Research.
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Fast facts
- The firm noted that the industry’s valuation would have been much higher if measured during the peak of the 2021 bull run.
- The report comes during a troubled regulatory period when major crypto exchanges like Binance are being probed by financial regulators worldwide.
- Singapore and Hong Kong are Asia’s top crypto hubs, accounting for 65,900 employees or 35% of global crypto employment. With 3,400 employees, Binance is Asia’s top employer, followed by OKX exchange with 3,000 employees and Crypto.com with 1,900.
- India is home to 20% of Asia’s crypto employees. This is followed by China, accounting for 15% of the workforce, despite the nation’s “hostile stance” on the industry.
- The U.S. is considered the driving jurisdiction behind the crypto industry, but only 29% of the global industry workforce resides there, with some 60,700 in North America and 8,400 in South America.
See related article: South Korea, Singapore, Thailand clarify crypto rules as U.S. in state of regulatory ‘warfare’