As per latest reports, Angellist, a website for start-ups, angel investors, and job-seekers in start-ups, has revealed that crypto firms are in dire need of new professionals.
According to the new job listings on Angellist launched last week, crypto firms have increased job listings even after a 60 percent drop in bitcoin’s value since December 2017.
The official statement read, “In the last three months, the number of new crypto job listings has doubled.”
Angellist has been providing a platform to job seekers, start-ups and investors since 2010. In July 2013, the company joined hands with a database company owned by Techcrunch named Crunchbase. It has also allowed star-ups to raise capital through angel investors since 2015.
Angellist has given two reasons for the sudden upsurge in crypto jobs: Firstly, the crypto sector has seen tremendous growth due to ICO boom. Secondly, “the price run-up of bitcoin and ethereum in 2017 is attracting more people into space for the first time, and the level of interest from the investor community is also at a record high.”
Due to the overwhelming success of start-ups, millions of dollars have been invested in crypto space. Angellist elaborated, “For example, the team behind Filecoin recently broke the record for the largest ICO in history, raising $257M to build a decentralized file storage system.”
It further stated, “The large sums of money going into the cryptocurrency space, from ICOs to VC financings, and the price appreciation of bitcoin and ethereum has led to a hiring boom at cryptocurrency startups.
Angellist revealed that more than $3 billion was raised through token sales in March 2018. It said, “as cryptocurrency companies are growing, raising larger amounts of money at higher valuations, so are their hiring needs for finding top talent.”
Crypto companies are not only seeking experienced individuals for their new projects but young and talented engineers with a passion for blockchain technology.
It wrote, “There are also open positions needing to be filled in marketing, business development, operations, customer support, and other job functions that don’t require a technical background. Similar to any other high-growth startups, cryptocurrency companies need to hire at job functions across the entire organization, and fast.”
Similarly, cryptonewsreview.com reported that the number of crypto-related job advertisements is going through inflationary phase since 2018. Most of the ads are from start-ups gearing up for an ICO launch.
In February, over 1000 ads were published even after bitcoin’s value fell below the $7,000 mark. It should be noted that jobs amounted to 500 in Angellist when bitcoin reached its zenith in December 2017. It is also believed that traditional venture capital investors will be replaced by cryptocurrency hedge funds as soon as crypto space becomes stable.
Crypto related firms are flourishing around the globe with some exceptions like China and India. Countries like Switzerland are backing crypto start-ups to boost their economy and growth. Only time can tell where digital currencies and blockchain technology will lead the world.