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Crypto Salaries Shrink in 2024 Despite Bitcoin Boom, Report Finds

Crypto Salaries Drop Globally as Firms Slash Pay, Double Down on Regulation and Remote Work

  • Crypto industry salaries and token incentives dropped worldwide for most positions, based on new research.
  • Western Europe leads in crypto employment, while Asia’s hiring levels have nearly doubled.
  • Most crypto firms keep their operations remote, with slow hiring rates and bigger pay gaps between executives and other employees.
  • The only notable pay rises were for executives, while staff and entry-level roles saw stagnant or falling wages.
  • A shift toward stronger regulations and cost control is changing compensation trends across the sector.

Salaries and rewards in the crypto industry have declined for almost all job roles and regions, according to the 2024/2025 Crypto Compensation Report from Dragonfly. This comes even as Bitcoin’s value hit record highs, as crypto companies focus more on controlling costs after years of rapid expansion.

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The report gathered data from 85 companies and more than 3,000 positions, finding average pay falling at nearly every level. Both in cash and token incentives, compensation dropped from last year. Firms hired less, with time-to-hire averaging close to four weeks and most applicants declining offers due to pay concerns.

Researchers from Dragonfly stated, “Overall, we’d call crypto compensation in 2024 and early 2025 a down market, and practices still felt relatively immature compared to traditional sectors.” They found that executive roles were the only positions to see substantial pay increases. This created what the report described as a “barbell effect,” where gains at the executive level were matched by flat or reduced pay for most staff.

Entry-level jobs made up about 10% of total positions, while engineering roles counted for nearly two-thirds of all staff. Non-technical positions, such as design and marketing, were less common in the workforce.

Looking at geography, Western Europe continued to lead the global crypto labor market due to strong venture funding, clear regulations, and established institutions. Countries like the U.K., Germany, and France played a big part in this growth. Meanwhile, Asia’s share of hiring almost doubled to over 40% of positions tracked. The U.S. led in cash pay, while non-U.S. firms offered more equity and token-based incentives.

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Despite these shifts, most companies in the sector remain remote-first. According to Dragonfly, more than 54% were fully remote, compared to only 2% that are fully office-based. As the industry settles after years of fast growth, companies are trading speed for more structure, with a focus on stable regulations and efficient spending.

For more details, see the full 2024/2025 Crypto Compensation Report.

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