Like many have envisioned, cryptocurrency is evolving and set to explode as more innovations are registered. Over time, more traditional sectors are making a U-turn to the crypto sphere, specifically, Wall Street firms in the U.S.
The talks surrounding crypto adoption by some countries, organizations, and individuals alike have risen tremendously this year. Additionally, this shows that crypto is here to stay and will not likely fizzle out like some concepts that came and never saw the light of the day after a couple of years.
Source: Revelio Labs
In detail, a recent survey collected from LinkedIn public profiles that reveal crypto-related positions reports that job listings relating to crypto rose to 600% since August last year. Quite interestingly, most of the above percentage is filled by top U.S. banks looking for crypto professionals to move to the banking space.
Accordingly, banks and other financial institutions have filled more than 1,000 positions for crypto talents since 2018. Besides that, they are also offering as much as 50% incentives to lure these specialists. Furthermore, Bloomberg’s report that some of these banks and financial firms are JPMorgans Chase & Co., Goldman Sachs Group Inc (NYSE:GS)., and Wells Fargo (NYSE:WFC) & Co.
Source: CoinMarketCap
This is surprising for many who never saw the upturn coming from Wall Street giants. Looking back, JPMorgan (NYSE:JPM) Chief Executive Officer Jamie Dimon called cryptocurrency ‘worthless’ in October 2017. However, the global recognition and Market Capitalization of over $2.6 trillion is enough to make anyone have a change of mind. Likewise, seeing how Bitcoin (BTC) and Ethereum (ETH) dominated the crypto market with 43.7% and 19.4% respectively.
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. Over and above, crypto-based jobs are in high demand at the moment. Therefore, further increases above the 600% recorded in August will be scored in the future.
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Source: Cryptocurrency - investing.com
