Report: Crypto Industry Contributes $55 billion to US Economy, Employs 34,000 People

BlockBeats News, July 23, the National Cryptocurrency Association of the United States released a report stating that the U.S. cryptocurrency industry directly employs 34,000 people; if the jobs supported by supplier industries and related employee spending are counted, the total employment is about 232,000. The report projects that by 2026, this industry will contribute over $55 billion to the U.S. GDP, with approximately $31 billion flowing to employees in the form of labor income.

Out of the 232,000 supported jobs, about 75,000 come from the supplier industry, and another 123,000 are driven by related employee household spending. These numbers are based on the multiplier effect of an input-output model and do not represent the direct employment by cryptocurrency companies. Out of the 34,000 direct jobs, the most are in software, blockchain, and data engineering, totaling around 10,100.

In terms of regional distribution, California and New York support 57,649 and 53,766 jobs, respectively, totaling over 111,000; Texas accounts for about 26,536 jobs. The report defines a total of around 17,000 jobs supported in 12 U.S. heartland states.

This report was commissioned and funded by the National Cryptocurrency Association, with analysis conducted by the Pragmatic Policy Group. Its estimates are based on the U.S. Bureau of Economic Analysis' 2024 input-output table and $23.2 billion in cryptocurrency industry revenue data, with occupational structure and industry mapping including model assumptions.