Popular crypto exchange Coinbase emerges as a major employer in America beating giants like Twitter, Intel, GE, JP Morgan, Nike, and others.
Despite the entire crypto industry going through a massive meltdown, Coinbase emerges as one of the top employers in the U.S. The crypto exchange is among the top 50 U.S. employers list leaving behind investment banking giant JP Morgan.
On Wednesday, April 3, LinkedIn editor-in-chief Daniel Roth published the official results. The list shows Coinbase ranking at the 35th position leaving behind popular organizations like Twitter, Intel, GE, JP Morgan, Nike and others.
The rankings are based on factors like demand for available jobs, interest in the company, employee engagement by executives, and employee retention rate.
Over the last year, Coinbase has strengthened its position by expanding its suite of services. Besides, the company has made several efforts to get merchants and institutional players to participate in the crypto space. Thus, the company has been on a hiring spree across disciplines like IT, engineering, and human resources. The LinkedIn results show that Coinbase has a headcount of 600 employees in the U.S.
Keeping up with the cryptocurrency adoption curve, Coinbase lets its employees take their salary either partially or entirely in Bitcoin. Moreover, nearly 40 percent of their employees have their salary allocated to cryptocurrency.
Besides, the company has also introduced several employee-friendly benefits and perks as a part of its employee-retention strategy.
Coinbase Also Amongst LinkedIn’s Top 50 Startups
Last year in September 2018, Coinbase also made it to the LinkedIn’s list for the top 50 startups to work for. Besides Coinbase, the list also included other popular crypto and blockchain startups like Ripple, and the popular crypto exchange Gemini, owned by Bitcoin-billionaires – Tyler and Cameron Winklevoss.
In the last few years, blockchain has been the most thriving industry attracting massive talent. With America’s employment rate at an all-time high, there are huge vacancies in the blockchain space. According to a LinkedIn report in December 2018, the U.S. companies had 1775 vacancies for blockchain-related jobs. Out of this, 80 percent of jobs were concentrated in the 15 largest American cities.
The latest rankings show that blockchain and cryptocurrencies are certainly making bigger inroads into global finance. FinTech companies are seen as major contributors to job creation over traditional financial companies. There’s no doubt to it that the traditional institutions will have to mold themselves to embrace the changing trends within the industry.
TheLinkedIn report shows that JP Morgan major hiring positions include engineering, finance, and business development. The banking giant is preparing itself for the massive hiring of 50,000 technologists. This is more than the combined hiring by Twitter and Facebook, states the report. JP Morgan is reportedly pumping a whopping $10.8 billion investments a year for the new hirings.
In February 2019, JP Morgan also announced its new cryptocurrency JPM Coin developed for high-value cross-border fund settlements among its institutional clients. The JPM Coin is likely to arrive ahead this year.
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