The National Cryptocurrency Association and the Pragmatic Policy Group released a joint report on July 22, 2026, showing that only 34,000 people work directly for US crypto companies, yet the sector is on track to contribute $55 billion to the American economy this year.
The study, titled "Crypto at Work," bills itself as the first full look at crypto's footprint in the US labor market. Average pay in the sector sits at $133,000 a year, more than double the national median wage of $64,000 and above typical salaries in both tech and manufacturing.
One job, six more downstream
PPG used a standard input-output economic model to estimate that each direct crypto job generates roughly six additional positions elsewhere: at suppliers, local businesses, and anywhere crypto workers spend their salaries. Stack those indirect and induced jobs together and the total reaches 232,000 supported roles across the broader economy.
By raw headcount, though, the picture is modest. The report benchmarks 34,000 direct jobs against coffee and tea manufacturing (28,400) and tobacco manufacturing (10,600). Not exactly a dominant American industry by that measure.
Geography is sharply uneven. California, New York, and Texas account for 60% of all crypto jobs, with 57,600, 53,800, and 26,500 workers respectively. Heartland states including Iowa, Kansas, Nebraska, and the Dakotas together support just over 17,000. The report flags Colorado and North Dakota as emerging hubs: Colorado for its crypto-friendly tax policy and companies like Riot Platforms and Crusoe Energy, North Dakota for flare-gas mining operations and a pilot stablecoin from the state-owned Bank of North Dakota.
PPG acknowledged one methodological gap: because no dedicated crypto workforce profile yet exists in official statistics, it modeled the sector's financial activities using the occupational mix of broader tech industries rather than traditional finance. The underlying data comes from the 2024 Bureau of Economic Analysis and Bureau of Labor Statistics.
NCA, which funded the research, said it wants the findings to give policymakers a concrete, evidence-based picture of what the sector actually contributes.
This article is for informational purposes only and does not constitute financial or investment advice.
