Crypto Industry Jobs Plummet as Startups and Investors Flee Volatility
According to a report by the Brookings Institution, the number of open positions at crypto companies in the US has decreased significantly after a surge in 2021 and early 2022. Major cities have seen a drop as high as 80%. The report highlights the dangers of the crypto industry's volatility on job growth, with the number of new startups in the crypto space falling from a peak of 80 per month in January 2022 to just two in April 2023. The decline should serve as a cautionary tale to metro areas as they seek to attract "disruptive" technologies, and instead focus on more "critical" technological sectors, such as biotech and energy.
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