- Jobs need to be filled in the Bitcoin bull market.
- Europe's job market is heating up with the ground-breaking regulatory scheme MiCA poised to be introduced.
Bullish sentiment regarding the soaring price of Bitcoin is driving business activity in the crypto space and keeping the job market active.
Bitcoin hit $67,000 this week, up 10% from the previous week. Analysts predict this is the beginning of a new cryptocurrency rally.
For fintech and financial recruiters, “the market remains slow, but the crypto industry – at least in our practice – is busy,” says Sam Wellerage, founder of crypto recruitment agency Workincrypt. says Mr.
“This correlates with the price of Bitcoin. There is a lot of movement in the cryptocurrency space and there is a growing demand for additional headcount,” Wellerage said. DL News.
top 10
The top 10 exchanges are currently trying to fill about 1,100 roles.
Fintechs and traditional payment providers are also looking for crypto talent.
Payments giant Stripe is looking for a US-based product manager to expand its cryptocurrency product portfolio, while Robinhood is hiring two product designers and Revolut is hiring four crypto-related positions. Mastercard is looking for software developers and product developers.
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The European Union's crypto market regulations are being rolled out across the bloc. Stablecoin rules are in effect and exchange rules are expected to be followed by the end of 2024.
With the use of MiCA, Europe is increasingly seen as a strategic hub, Wellerage said.
new products
Companies are therefore looking to take up key leadership positions in Europe to strengthen their existing services and build new ones.
Mr Welleredge said his company had secured the equivalent of £700,000 in basic salaries for candidates across Europe in just four weeks.
“Many of our clients are old clients who have been quiet for a while, but suddenly come to us with urgent and very specific employment requests,” Wellerage said.
These customers included exchange OKX, sports platform Chiliz, and Quantstamp.
MiCA allows companies established in one EU country to offer crypto asset services across the bloc.
OKX Europe General Manager Erardo Goos said OKX has chosen Malta as its European base and aims to grow its team in Malta from 60 to 100 people to support its European operations. DL News At the beginning of this year.
There is an increased focus on regulatory and compliance expertise at Polygon Labs, said Jonathan Tamblyn, the company's chief human resources officer. DL News.
The company is considering adding another lawyer to its U.S. legal team.
Additionally, the industry hopes to attract traditional finance as banks and asset managers look to leverage the benefits of tokenizing assets such as stocks and bonds.
81 jobs
Highly regulated Wall Street firms are more likely to do business with vendors who can demonstrate solid compliance.
As of this writing, Binance has 81 openings for compliance and legal staff, which is about a quarter of the open positions. Coinbase is looking to fill 20 such roles, and Crypto.com has 10.
Mainstream payment providers are also looking for more staff as governments worry that criminal networks are using the technology to launder money.
Revolut and Mastercard are both looking for experts in crypto-related financial crimes.
“There's a lot of movement in the crypto industry right now, with more talent than usual moving between companies due to layoffs and some projects shutting down completely,” Tamblyn said.
The number of layoffs is much lower than during the last crypto bear market. According to Layoffs.fyi, 13,500 cryptocurrency workers have lost their jobs since April 2022.
Since May, Matter Labs, Paxos, Moon Pay, and Bakkt have collectively laid off 153 people.
Custodia Bank has laid off nine of its 36 employees, but this is due to the bank's ongoing legal issues rather than market conditions.
The future of cross-chain
So, if you are a crypto job seeker, how can you make yourself attractive to employers in this market?
Tamblyn’s conclusion is that applications need to be able to launch on multiple blockchains, as the blockchain industry is fragmented into an ecosystem of multiple chains. The role of business development and ecosystem management is key.
“As the industry moves toward a multi-chain future, experts who can drive secure and seamless cross-chain experiences are essential,” Tamblyn said.
Contact the author at joanna@dlnews.com.
