According to a recent report from the National Cryptocurrency Association, the cryptocurrency sector in the U.S. employs approximately 34,000 individuals directly and supports around 232,000 jobs throughout the wider economy.
Summary
- The NCA estimates that the U.S. cryptocurrency industry will directly employ 34,000 people and generate 232,000 jobs economy-wide by 2026.
- The report anticipates a contribution of $55 billion to the U.S. GDP and $31 billion in earnings from the cryptocurrency industry.
- California and New York are the top states for supported employment, with engineering being the largest direct job sector in crypto.
The study additionally forecasts that cryptocurrency-related activities will contribute over $55 billion to the GDP of the United States by 2026.
Commissioned by the NCA, the analysis was carried out by the Pragmatic Policy Group. The report distinguishes between direct jobs at cryptocurrency firms and those jobs supported through suppliers and employee spending, estimating that approximately $31 billion of the industry’s total economic impact goes to worker salaries.
The report identifies that direct employment in cryptocurrency firms will reach 34,000 full-time equivalent positions by 2026. Software, blockchain, and data engineering constitute the largest job category, with about 10,100 positions. Compliance, finance, and business operations contribute another 5,450 jobs, while executive and managerial roles account for approximately 5,100 positions.
The research contrasts the direct workforce in the crypto sector with various traditional industries, noting 28,400 jobs in coffee and tea manufacturing, 15,300 in cement, and 10,600 in tobacco. Most benchmark data is derived from the 2024 Bureau of Labor Statistics, while the crypto figures are projected for 2026. The report also states that the average annual salary for supported jobs is $133,000 compared to the national median of $64,000.
Among the direct employment figures, the study counts 2,470 roles in sales and business development, 1,480 in hardware and systems engineering, and 1,160 in legal and regulatory positions within the sector.
Majority of Supported Jobs Are Outside Crypto Firms
The overall figure of 232,000 includes 75,000 jobs in supply industries and 123,000 jobs stemming from worker expenditures. The report indicates that each direct cryptocurrency job fosters roughly six additional jobs across the larger U.S. economy, encompassing roles in cloud services, legal sectors, insurance, housing, transportation, and dining establishments.
Thus, the count does not signify 232,000 individuals employed by cryptocurrency companies alone. The report’s appendix clarifies that this number reflects typical economic multiplier phenomena. It also predicts that the crypto sector will add more than $55 billion to the U.S. GDP in 2026, contributing about $31 billion in worker salaries. The largest component of this model comprises securities and commodity contracts.
Furthermore, California is projected to support around 57,649 jobs, while New York is expected to contribute 53,766. Together, these two states account for nearly half of the national total. Texas trails with 26,536 jobs, followed by Washington with 15,097 and North Carolina with 9,524.
The report also notes that the 12 states categorized as the Heartland collectively support more than 17,000 jobs. Colorado alone is responsible for about 5,797 supported roles and generates $1.3 billion in economic output. These state-level figures include both direct crypto jobs and positions sustained through household spending, rather than just payroll tallies at blockchain firms.
Report Released Amidst Varied Hiring Trends in Crypto
The NCA unveiled the report amidst mixed employment trends among cryptocurrency companies. As reported by crypto.news in March, firms like Gemini, Crypto.com, and Algorand had announced reductions in their workforce early in 2026. More recently, Exodus trimmed about 25% of its staff due to a shift toward stablecoin transactions, while Polygon Labs also cut jobs during a restructuring for its Coinme integration.
These staff reductions do not contradict the NCA estimates since the study reflects a broader economic landscape and is based on modeling rather than a current workforce count. The analysis uses input-output tables from the 2024 Bureau of Economic Analysis, Bureau of Labor Statistics data, and a $23.22 billion revenue projection for the U.S. cryptocurrency sector, as sourced from Statista.
As cryptocurrency is not classified as a distinct industry by the Bureau of Economic Analysis, the Pragmatic Policy Group integrated crypto businesses into existing sectors for this report. The report states that most financial-related crypto revenue was attributed to securities and commodity contracts, while a lesser portion was assigned to data processing and web publishing. The model also assumes that relationships established in 2024 continue to apply.
Funded by the NCA, the research was described as an independent analysis by the Pragmatic Policy Group. NCA President and Ripple’s Chief Legal Officer Stuart Alderoty referred to the sector as a “genuine and beneficial” contributor to American employment, salaries, and economic development. As previously noted by crypto.news, a different NCA survey revealed that more than 67 million adults in the U.S. own cryptocurrency.
The report presents two different assessments of the industry’s employment reach: a direct figure of 34,000 jobs and a broader estimate of 232,000 that includes supplier jobs and those reliant on worker expenditures throughout the economy.