On July 23, the National Cryptocurrency Association released a report stating that the U.S. cryptocurrency industry directly employs 34,000 individuals. When accounting for jobs supported by supplier industries and household spending by industry workers, total employment supported by the sector amounts to approximately 232,000 jobs. The report projects that by 2026, the industry will contribute over $55 billion to U.S. GDP, with roughly $31 billion flowing to workers in the form of labor income. Of the 232,000 supported jobs, about 75,000 stem from supplier industries, while another 123,000 are generated through household consumption by cryptocurrency industry workers. These figures are derived from input-output modeling and multiplier effects and do not represent direct employment by cryptocurrency firms. Among the 34,000 direct jobs, roles in software, blockchain, and data engineering are the most numerous, totaling approximately 10,100 positions. In terms of geographic distribution, California and New York support 57,649 and 53,766 jobs respectively, together exceeding 111,000 positions; Texas supports approximately 26,536 jobs. The 12 Midwestern states defined in the report collectively support around 17,000 jobs. The report was commissioned and funded by the National Cryptocurrency Association, with analysis conducted by Pragmatic Policy Group. Its estimates are based on the U.S. Bureau of Economic Analysis’ 2024 input-output tables and $23.22 billion in cryptocurrency industry revenue, incorporating model assumptions regarding occupational structure and industry mapping.
Report: Cryptocurrency Industry Contributes $55 Billion to U.S. Economy and Directly Employs 34,000 People
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