According to a new survey by venture capital firm Dragonfly Capital, candidates with less experience may face challenges finding jobs in the cryptocurrency industry this year, with only one in ten cryptocurrency positions being entry-level.
Cryptocurrency recruitment executives indicate that this trend may be related to the recent failures of numerous cryptocurrency projects.
"Cryptocurrency is hard to enter; less than 10% of positions are entry-level," Dragonfly Capital stated in a report released on Thursday, which cited data collected from 85 cryptocurrency companies for the end of 2024 and the first quarter of 2025, along with approximately 3,400 employee and candidate data points.
Meanwhile, senior and executive-level positions account for the largest share of jobs in the industry, reaching 37%. Engineering roles remain the dominant function in the sample, making up about 67% of the total workforce.
Dragonfly noted that despite a bullish cryptocurrency market, rising positive sentiment, and support for cryptocurrency from the Trump administration, hiring across the industry has remained "cautious," with net hiring turning to negative growth in the first half of 2025.
"Early fluctuations included strong job growth in January, tariff shocks in February, and large-scale reactive layoffs in March," Dragonfly said.
Entry-level employees are the first to be affected by layoffs, facing lower salaries and reduced token packages, which are "partially offset by higher equity."
Given the strong appeal of cryptocurrency among the younger generation, these results may be surprising. According to a report by cryptocurrency payment company Triple-A, as of December 2024, about one-third (34%) of cryptocurrency holders are aged between 24 and 35.
Kevin Gibson, founder of recruitment firm Proof of Search, stated that these findings align with his recent observations.
"Despite the overall market being positive and several projects succeeding, many projects fail after token generation events," Gibson told Cointelegraph.
"This has led many experienced professionals to re-enter the job market, giving recruitment firms an advantage in selecting from a pool of experienced candidates," he said.
Gibson added that as many expect the market to remain strong for at least the next six months, companies are doubling down on hiring senior talent to accelerate project delivery.
"We have not yet returned to the hiring landscape of 2021, when the least experienced entry-level candidates were quickly hired," he said.
Matt Thompson, founder of TRB Executive Search, told Cointelegraph that cryptocurrency companies tend to ramp up hiring when market conditions are favorable but start layoffs during downturns.
Thompson stated that this volatility itself may long-term deter young candidates from entering the industry. "This instability may prevent students from pursuing careers in cryptocurrency, especially compared to traditional banking, where career longevity is more assured."
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Original article: “Dragonfly Report: Cryptocurrency Hiring in 'Cautious' Mode This Year, Entry-Level Positions Scarce”
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