A report from K33 Research has found that there has been a 10% decrease in the number of people employed in the cryptocurrency sector, dropping from 210,000 to 190,000.
This sector is comprised of about 10,000 companies with a combined value of $180 billion, and the majority (60%) of employees are engaged in trading and investment firms.
The US, Asia, and Australia account for 65% of all crypto employees, with India alone making up 20%, and Europe making up 24%.
Anders Helseth, K33’s CEO, said that there was a “general trend” of layoffs, with Binance standing out as an exception.
A series of other companies, including Robinhood, Dapper Labs, Protocol Labs, and TrueLayer, have announced cuts to their workforces since the end of 2020.