Cryptocurrency Firms Face A Talent Shortage As The Room Get Overcrowded – Bitcoin News

Cryptocurrency companies and exchanges are currently facing significant hurdles in recruiting talent. This is because the crypto space is growing at an alarming rate. Traditional financial firms entering the scene seem to be making the talent shortage worse. There are hundreds of positions at cryptocurrency-based companies waiting to be filled.

The Crypto Talent Squeeze is real

Cryptocurrency companies struggle to find suitable talent for thousands of available job openings, and companies are battling left and right for the attention of potential employees. Binance, one of the largest exchanges in the world, is not outside of that equation.

There are more than 300 places on the booming stock market, but there are few people who occupy it. What’s worse, exchanges and startups are now struggling for banking institutions to step into access to this talent. This makes it even more difficult for a new company to find qualified new employees.

Changpeng Zhao spoke to Bloomberg about the problem and said that the problem affects them too. CZ stated:

We see the industry growing exponentially from year to year and we need to scale our team to cope with it. We don’t mind where people are as long as they get results.

Remote control go

For many cryptocurrency companies facing this predicament, hiring remote workers has been the answer. The expansion of their borders enables them to find skilled workers in other latitudes. Coingecko, the well-known price platform for cryptocurrencies, has chosen this path. The Malaysia-based company was unable to fill a number of key positions and is now accepting applications from employees around the world. Bobby Ong, CEO of Coingecko, specified:

Over the past year we have tried to fill more positions, but we have found that it is becoming increasingly difficult to take advantage of the smaller talent pool here in Malaysia.

Coinbase also switched to a remote first work model last year due to the coronavirus outbreak. But unknowingly, this also opened up a new job market for them. But even after the global alignment, companies still do not get the talent they need. This has resulted in some companies lowering their filling requirements. Neil Dundon, founder of the recruitment agency Crypto Recruit, said:

As for the duration of the experience, one to two years is enough today. The shortage of skilled workers is currently so great that companies are throwing out a broader network.

What do you think of the talent shortage in the cryptocurrency space? Let us know in the comments section below.

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