Coinbase, the largest US exchange, released a report voicing concern over a decline in crypto talent in the US, while corporate interest continues to increase. Coinbase noted a significant decline in US-based crypto developers, dropping 14 points in the last five years to just 26% currently. đ
However, small businesses are showing interest in seeking crypto-savvy candidates to fill future roles in IT, technology, finance, and legal departments. About 68% of small companies believe blockchain and crypto can solve key financial problems: processing time and transaction costs.
The report emphasized that following the approval of spot Bitcoin ETFs earlier this year, assets under management for spot Bitcoin ETFs have surpassed $63 billion due to the entry of trusted names in the crypto and blockchain industry.
Coinbase highlights the urgent need for clear rules in crypto. Senator Cynthia Lummis expressed concerns about the Biden administration and Gary Gensler's strict stance on Bitcoin and digital assets. He warned that this approach could push the industry overseas, potentially affecting America's leadership in financial innovation.
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