The current crypto winter has seen budgets and jobs cut, but The search for high-end talent hasn’t stopped in various Web3 verticals, according to some cryptocurrency recruiting firms.
Speaking to Cointelegraph, Kevin Gibson, founder of cryptocurrency trading firm Proof of Search, said that Most of the downsizing in the cryptocurrency market has been at centralized exchangesmost notably the 18% cut at Coinbase in June, the 10% cut at Gemini in July, and the 5% cut at Crypto.com.
Despite this, he said “There Is Still High Demand” For Crypto Job Seekers To Land Jobs With “GameFi, Metaverse, Decentralized Finance, And NFT-Oriented Companies”.
Gibson explained that the Cryptocurrency job boards continue to be dominated by developer and engineer rolesadding that there is also “a shortage of experienced CTOs, CMOs and token experts.”
Unfortunately several crypto exchanges announced big layoffs recently:
– @coinbase 18%
– @Gemini 10%
– @cryptocom 5%
– @BlockFi twenty%Despite all this several of our hiring partners are still looking for devs: Rust, Solidity, React, NodeJS…
✉️ DMs are open! #hiring
—CryptoCareers | Hiring Web3 Developers (@_cryptocareers) June 14, 2022
Sadly, a number of cryptocurrency exchanges recently announced big layoffs:
– @coinbase 18%
– @Gemini 10%
– @cryptocom 5%
– @BlockFi 20%Despite all this, several of our contracting partners are still looking for devs: Rust, Solidity, React, NodeJS…
✉️ DMs are open! #hiring
Gibson added that venture capital firms have continued to deploy capital “to companies with strong business models that have seen sustained hiring activity despite market fluctuations”.
These claims appear to be supported by a recent report from cryptocurrency analytics firm Messari, which showed that $30.3 billion was poured into crypto companies in the first half of 2022, which was more than in 2021. While Web3 and non-fungible token (NFT) projects captured $8.6 billion of the total amount invested in the period.
The founder of CryptoRecruit, Neil Dundon, told Cointelegraph that most he had seen were from “non-essential areas”.
Dundon said that in the short to medium term, the cryptocurrency job market “will remain relatively stagnant for the time being until we get confirmation that we have broken out of the bear market.”even though there are still plenty of “great opportunities” out there for both crypto businesses and job seekers.
But, bear market or not, Dundon said that a crypto firm’s ability to adapt to changing circumstances will go a long way to success in this market.:
“Crypto is still a nascent industry, the most important attribute to have when entering this space is a startup mindset. The ability to adapt to bumps when things get a little tougher or the company’s direction changes. Building new things is not for the faint of heart.”
Some of the world’s largest exchange-listed companies have also contributed funds to the cryptocurrency market in 2022. According to BlockData, Google, Samsung, Microsoft, PayPal, Morgan Stanley and Goldman Sachs are some of the companies that have participated in financing rounds.
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