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Wall Street Turn To Crypto Experts for Rescue Upon BTC, ETH, Boom -Breaking

by Mike Robinson

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© Reuters. Wall Street turns to crypto experts for rescue upon BTC, ETH and Boom
  • There is a 600% increase in demand for experts in cryptography within the Fintech sector.
  • In the past three years, top U.S. financial institutions and banks added 1000 crypto positions.
  • This is a great way to get crypto talent.

Many have expected cryptocurrency to evolve and explode, as new innovations are made. As cryptocurrency evolves, traditional businesses, particularly Wall Street, will make an U-turn, especially in the U.S.

Talks about cryptocurrency adoption have increased dramatically in recent years by individuals, countries and organizations. This shows that cryptocurrency is not going away like other concepts after only a few years.

Source: Revelio Labs

Detail: A survey taken from LinkedIn profiles that disclose crypto-related job positions revealed that the number of crypto-related job postings has increased by 600% over August 2013. It is interesting to note that most of the above mentioned percentage has been filled by U.S. banks seeking crypto specialists to work in the banking industry.

Since 2018, more than 1000 positions have been filled by banks and financial institutions for cryptocurrency talents. These institutions offer as high as 50% in incentives to attract these experts. Furthermore, Bloomberg’s report that some of these banks and financial firms are JPMorgans Chase & Co., Goldman Sachs Group Inc (NYSE :)., Wells Fargo (NYSE:) & Co.

Source: CoinMarketCap

It is surprising, as many people never thought that Wall Street would see a rebound. Looking back, JPMorgan (NYSE:) Chief Executive Officer Jamie Dimon called cryptocurrency ‘worthless’ in October 2017. The global recognition and market capitalization of more than $2.6 trillion makes it worth considering. Also, (BTC), and (ETH) dominate the cryptocurrency market respectively with 43.7% (and 19.4%)

Particularly, banks can’t risk their clients going to another bank to carry out some crypto-related services. Hence, Wall Street and financial firm’s resilience to catch up with the world of crypto. Additionally, there are many crypto-based job opportunities available right now. Further increases beyond the 600% seen in August are expected in the near future.

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