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A look at the crazy hiring spree crypto firms went on this year

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A look at the crazy hiring spree crypto firms went on this year 1
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A look at the crazy hiring spree crypto firms went on this year

byTim Copeland
A look at the crazy hiring spree crypto firms went on this year 3
Quick Takes
  • Boosted by higher prices and a war chest of venture capital, crypto firms expanded aggressively in 2021.
  • We collected data from 27 crypto firms to find out how many people they hired this year.
The crypto industry went all out on hiring this year, spending millions of dollars to attract key talent from tech companies across the world.

Throughout this year, The Block documented the steady talent drain from traditional finance and tech, and have observed that token incentives are one of the main selling points for jumping ship. According to The New York Times, Google’s weekly executive agenda now includes a discussion on retention — including keeping staff from going to crypto firms.

For this article, The Block collected responses from 27 crypto firms detailing how many people they hired this year and their current headcount. The numbers show that companies expanded rapidly, particularly in the first half of this year, with many doubling or even tripling their headcount. 

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You Should Know
What the heck are the OpenDAO and its SOS token?
Late last week, a new decentralized autonomous organization (DAO) called the OpenDAO suddenly emerged to distribute free tokens to users of OpenSea, the largest NFT marketplace. According to its website, the goal of the OpenDAO (not to be confused with a stablecoin minting protocol by the same name) and its SOS token is “to pay tribute, to protect, to promote” the NFT community. 
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A DAO wants to buy Blockbuster and turn it into a decentralized film streaming service
Just weeks after a decentralized autonomous organization (DAO) tried to buy an original copy of the US Constitution, another historical artifact has become the target of a DAO: the defunct movie rental business Blockbuster. 
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Institutional crypto custodians raised more than $3 billion in 2021
Crypto custodial firms focused on the institutional market experienced a significant upswing in funding in 2021, according to The Block Research. Such firms have raised more than $3 billion this year. As noted in The Block Research’s 2022 Digital Asset Outlook Report, the rate of investments was more than three times higher than 2020. 
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The combined trading volume of bitcoin (BTC) and ether (ETH) futures surged over $32 trillion in 2021, according to The Block Research.
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Research
  • As a result of layer two scaling solutions and novel fair launch innovations, NFT drops could become more user-friendly and cost-effective. The recently triggered cascade of escalating metaverse hype could continue to flourish while walking a tightrope between fantasy and actual applicability.
  • In the Layer by Layer series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding. This week, we check in with the latest governance decisions and proposals among L1 ecosystems, including Terra, Cosmos, Tezos, Polkadot, and Kusama.
  • Bitcoin continues to be the dominant cryptocurrency for darknet markets but monero is catching up, according to an updated analysis by The Block Research.
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