The past couple of years have been tumultuous for the crypto industry, with scandals, collapses, and lawsuits plaguing the space. This has resulted in a loss of confidence and funds for many, leaving people wondering if working in crypto is still worth it.
According to Bloomberg, crypto job postings on LinkedIn declined by 57% year-over-year in December, although this was an improvement from the 71% drop in November. The bear market has lasted longer than many expected, causing concern for those working in the industry.
However, despite the challenges, there are glimpses of hope. The recent approval of Spot Bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) is seen as a legitimization of the space and has sparked renewed interest.
While some see these challenges as necessary growing pains for the industry, others are more cautious. The aftermath of high-profile setbacks, such as the FTX collapse and the trial of former FTX CEO Sam Bankman-Fried, have significantly altered the industry’s atmosphere.
Nevertheless, those who remain committed to the crypto industry believe in its potential to foster a more inclusive and transparent financial system. They view the current fluctuations as temporary and are confident that the industry will emerge stronger.
While there is still an uphill battle for those working in the industry, long-term participants believe in the future of crypto and are focused on rebuilding and strengthening the ecosystem.
In conclusion, working in crypto right now can be challenging, but for those who believe in the technology and the industry’s potential, the money is still worth it. The industry is undergoing necessary changes and regulations, and while there may be more turbulence ahead, the long-term outlook remains positive.
