A new report by the National Cryptocurrency Association (NCA) and the Pragmatic Policy Group (PPG) finds that despite the relatively small number of direct jobs in the crypto sector, the industry will contribute $55 billion to the US economy in 2026.
Industry footprint remains small but significant
The report, titled “Crypto at Work,” highlights that just 34,000 professionals currently work directly for crypto companies. This figure is modest compared to major American industries, but the report states that the sector’s economic impact is far greater than its size would suggest.
The average annual salary for crypto-related roles is $133,000, according to the report. This is more than double the national median wage of $64,000 and surpasses the average compensation in both the tech and manufacturing sectors.
Crypto companies create jobs not only within the tech industry but also directly support more positions than key manufacturing sectors, according to PPG.
Job creation reaches beyond direct employment
Using a standard input-output economic model, PPG calculated that for each direct job in the crypto sector, six additional jobs are sustained elsewhere in the economy, including suppliers and local businesses where crypto employees spend their income.
By accounting for indirect and induced employment, the total number of jobs supported by the industry reaches 232,000.
Still, when compared to other sectors, the direct workforce remains relatively small. The report compares the 34,000 direct crypto jobs to 28,400 jobs in coffee and tea manufacturing and 10,600 in tobacco manufacturing.
| Sector | Direct Jobs | Total Jobs Supported |
|---|---|---|
| Crypto Industry | 34,000 | 232,000 |
| Coffee & Tea Manufacturing | 28,400 | Not specified |
| Tobacco Manufacturing | 10,600 | Not specified |
Geographic distribution and emerging hubs
The industry is concentrated in a handful of states. California, New York, and Texas collectively hold more than 60% of all US crypto jobs, with respective job counts of 57,600 in California, 53,800 in New York, and 26,500 in Texas.
Meanwhile, heartland states such as Iowa, Kansas, Nebraska, and the Dakotas have just over 17,000 positions among them. The report identifies Colorado and North Dakota as markets to watch, citing Colorado’s supportive crypto tax policies and the presence of companies like Riot Platforms and Crusoe Energy, as well as North Dakota’s flare-gas mining initiatives and a pilot stablecoin issued by the Bank of North Dakota.
Mini dictionary: Flare-gas mining refers to using excess natural gas, usually a byproduct of oil extraction, to power cryptocurrency mining operations onsite. This method helps reduce environmental waste and offers an alternative energy source for miners.
According to the report, Wyoming and North Dakota are among the states showing potential for crypto workforce growth.
Report methodology and limitations
PPG notes that the analysis is based on 2024 data from the Bureau of Economic Analysis and Bureau of Labor Statistics. Given the absence of a detailed occupational profile for the crypto industry, researchers relied on data from the broader technology field to estimate the sector’s labor market impact.
The National Cryptocurrency Association, a nonprofit that was established in 2025 to support safe and informed digital asset adoption, funded this research. NCA stated it aims to provide policymakers with an evidence-based perspective on crypto’s role in the US economy.
NCA expressed hope that these findings will offer lawmakers a clearer view of the industry’s value to the broader economy.
