Jayendra Jog, co-founder of Sei Labs, the company behind the popular cryptocurrency SEI, criticized the talent of developers in the cryptocurrency industry.
According to Gouge, the best talent in the industry typically don't stay as employees, but instead move on to become founders.
Sei Co-Founder Criticizes 'Most Cryptocurrency Developers'
While founder wages are unlimited and highly dependent on the success of the project, the average wage in the cryptocurrency industry is still significant and should not be discounted. However, Gouge believes that the average developer in the cryptocurrency industry is nothing special:
“Most cryptocurrency developers have a very average TBH. Many top-tier cryptocurrency developers become founders, so developers who are actively looking for a job with many years of blockchain experience are often not great.”
BeInCrypto recently reported data indicating that cryptocurrency compliance officers earn an average annual salary of $103,000.
Read more: 11 Best Alternative Cryptocurrency Exchanges for Cryptocurrency Trading in January 2024
Although Jog expresses less optimistic views on developers in the cryptocurrency industry, developers remain the most sought-after professionals in the entire information technology (IT) industry.
Statista data shows that in 2023, backend developers and full software developers were the most in-demand workers in the IT industry.
Cryptocurrency jobs recently
However, it is not always safe to get a job in the emerging technology industry.
Despite recent positive regulatory news at the beginning of this year regarding the approval of 11 spot exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC), several waves of layoffs have already occurred this year.
However, new startups and more improved structures in the organization, can lead to significant layoffs.
Read more: Top 12 Cryptocurrency Companies to Watch in 2024
On February 1, BeInCrypto reported that Polygon Labs announced the layoff of 60 team members, approx. 19% of its workforce, to increase operational efficiency.
Meanwhile, on January 11, NEAR announced a 40% workforce reduction, impacting its marketing, business development and community teams.
On the other hand, Blockchain.com plans to expand its workforce by 25% in the first quarter of 2024, focusing on Europe and emerging markets.
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