Jobs need to be filled in the Bitcoin bull market. Europe's hiring market heats up with MiCA landmark regulatory regime.
Bullish sentiment surrounding the rising price of Bitcoin is driving business activity in the crypto space — and keeping the job market active.
Bitcoin hit $67,000 this week, a 10% gain from the previous week. Analysts predict that this is the beginning of a new crypto rally.
For recruiters in fintech and finance, “the market is still dull, but in crypto – at least in our practice – things are busy,” said Sam Vellalez, founder of crypto recruitment company WorkInCrypto.
“It correlates to Bitcoin prices. There is a huge amount of activity in the crypto space” says Vellalege, adding that the demand for more staff is increasing News.
Top 10
The Top 10 Exchanges are currently looking to fill 1,100 roles.
Fintechs and traditional payments providers are also looking for crypto talent.
Payments giant Geeta is looking for a US-based Product Manager To expand its crypto product portfolio, however Robinhood Looking for two Product Designers, Rebellion There are four open crypto-related roles and Mastercard want Software and product developers.
What do employers want?
Top of the crypto recruitment wish list? Product and business strategy people in Europe.
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Regulation of crypto-assets in the European Union is being unleashed across the bloc. Stablecoin rules are live and rules for exchanges will follow in late 2024.
In the MiCA game, Europe appears to be more of a strategic hub, Vellale said.
New offers
So companies are looking to fill key European leadership positions to strengthen their existing ones and create new offerings.
Vellale says his company has received £700,000 worth of base salaries for candidates in Europe in just four weeks.
“Many clients are old clients who have been quiet for a while and suddenly come to us with urgent and very specific” hire requests, Vellalay says.
These clients include exchange OKX, sports platform Chiliz and Quantstamp.
MiCA allows entities established in an EU country to provide crypto asset services to the entire bloc.
OKX has chosen Malta as its European base and aims to grow its team from 60 to 100 people to support its European operations, OKX Europe General Manager Erald Ghoos said. News Earlier this year.
Polygon Labs has a strong focus on regulatory and compliance expertise, said Jonathan Tamblin, the company's chief people officer. News.
The company is looking to add another lawyer to its legal team in the US.
Moreover, the industry wants to attract traditional finance as banks and asset managers look to exploit the benefits of tokenizing assets such as stocks and bonds.
81 openings
Heavily regulated Wall Street firms prefer to do business with vendors who can demonstrate strong compliance.
At the time of writing, there is Binance 81 openings A quarter of its open roles – for compliance and legal staff. Coinbase is looking to fill 20 such charactersand Crypto.com 10 is there.
Mainstream payments providers are also looking for more staff as governments worry that criminal networks are using the technology to launder money.
Rebellion And MasterCard Both look for crypto-related financial crime experts.
Tamblin said “there's a lot of movement in the crypto space right now, with talent shifting between companies more than usual due to layoffs and some projects shutting down altogether.”
The deletions are still much lower than during the crypto's last bear market. According to Layoffs.fyi, since April 2022, 13,500 crypto workers have lost their jobs.
Since May, Matter Labs, Paxos, Moon Pay and Bakkt have laid off a total of 153 people.
Custodia Bank has laid off nine of its 36 employees, but this is due to the bank's ongoing legal troubles rather than market conditions.
Cross chain is the future
If you are a crypto job-seeker, how do you make yourself attractive to employers in this market?
Tamblin's takeaway is that as the blockchain industry is fragmented into an ecosystem of multiple chains, applications must be able to launch on multiple blockchains. Business development and ecosystem management roles are critical.
“As the industry moves toward a multi-chain future, experts who can drive secure, seamless cross-chain experiences are essential,” said Tamblin.
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