Crypto Recruitment Shortage: Exchanges are Competing with Banks For Top Talent

If you’ve ever thought of working in crypto, now is the time to reskill and get hired. The crypto industry is growing at such a rapid pace it can’t keep up with the demand for new employees to fill hundreds of open positions.

There are employment opportunities everywhere right now in crypto, with the world’s biggest exchanges posting new positions daily.

“We are hiring aggressively,” Binance CEO Changpeng “CZ” Zhao said by email this week.

We see the industry growing exponentially on a year-to-year basis, and we need to scale our team to cope with it. We are a geo-equal-opportunity employer. We don’t mind where people are, as long as they produce results.

CZ, Binance CEO

Binance Has 800 Positions Up For Grabs

Binance is the biggest exchange and currently has over 800 positions advertised worldwide through its LinkedIn employment portal. Winklevoss twins-led Gemini plans to expand its Singapore team from 30 to 50 by December. Hong Kong-based currently lists more than 200 openings, more than half of them based in Asia.

According to Neil Dundon, founder of recruitment agency Crypto Recruit, curiosity regarding jobs in crypto has expanded about five to 10 times in the past nine months. Despite that popular interest, however, finding candidates with relevant experience is proving difficult, resulting in some companies being forced to lower their expectations.

A single job posting can attract hundreds of applicants. In terms of length of experience, one or two years is good enough these days. The skills shortage is so bad at the moment that companies are casting a wider net.

Neil Dundon, Crypto Recruit

Just as the best NFL or EPL football players are snapped up by teams with the deepest pockets, highly skilled crypto candidates are being poached by the banks with the biggest wallets: Goldman Sachs, Morgan Stanley and Citigroup are now offering crypto and trading services to their clients and have scouted top talent to fill these positions.

While investment banks are recruiting the best in the business to come and work for them, smaller companies are having a hard time competing, finding it difficult to source people with crypto experience.

Gemini Job Benefits Include Unlimited Vacation Leave and a Profit-Sharing Program

To sweeten the deal and entice the best employees, Gemini’s APAC managing director Jeremy Ng said the company is considering offering benefits including unlimited vacation leave and a profit-sharing program to attract talent globally.

Even big tech companies such as Facebook and online retail giant Amazon have big plans to expand into crypto. While Facebook works on its Diem token (formerly known as Libra), Amazon recently posted a blockchain job listing for a Head of Product.

The long and the short of it:

  • There are hundreds of new jobs in crypto being listed every day
  • There are not enough job candidates with crypto credentials to meet the demand for these positions
  • Big banks are scooping up all the top talent for themselves
  • Crypto exchange Gemini is sweetening the deal by offering unlimited vacation leave and a profit-sharing program to attract talent globally
  • Roles for developers and customer support are areas of high demand.

Blockchain Collective, an educational body for blockchain learning, plans to meet the high demand for crypto job candidates by partnering with TAFE Queensland to offer an advanced diploma in Applied Blockchain.

Caitlin Carey

Caitlin Carey

Caitlin is a crypto evangelist with a deep curiosity and passion for learning and writing about everything to do with cryptocurrency. She has a background as a performing artist and songwriter and is a digital media enthusiast, with a bachelor degree in Multimedia.

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