Coinbase Is Pouring A Ton Of Money Into Recruiting New Talent This Year

Coinbase plans to add at least 2000 employees this year across its range of departments, as it seeks to establish itself as the leading crypto exchange in Web 3. This is according to a Tuesday announcement by the firm’s Chief People Officer L.J. Brock.

“In 2022, we plan to add up to 2,000 employees across our Product, Engineering, and Design teams” reads the blog, “We see enormous product opportunities ahead for the future of Web3.”

Further, the company noted that the plan to hire such a huge number of employees was informed by its fast expansion and the need to build “onramps for individuals to participate” in the next generation use case of crypto.

“We’re also expanding to include products that host user-generated content like NFTs, and we’re excited about our ambitious plans for the future of Coinbase Wallet, enhancing security, ease of use, and accessibility.”

With crypto being at a critical juncture and public adoption being at an all-time high, the former San Francisco-based company has been investing heavily in onboarding new talent to help with its expanding operations and suite of products. Last year, the exchange hired 1,527 people in the first three quarters with its total headcount increasing by an impressive 137% to 2,781 people.

While most of the firm’s job postings have been in software and finance, it has also recently been hiring legal minds as talks of regulation run high. Recently, Coinbase hired Former SEC counsel Thaya Knight as its senior public policy manager, less than three days after resigning from the SEC.

With the explosion of Web 3 and inflation at an all-time high in the US, traditional companies are witnessing a mass resignation with crypto becoming the hotbed of new job seekers for its flexibility and attractive pay.

According to a recent report by LinkedIn- crypto-related job postings exploded last year indicating a disruption across industries.

“Job postings with titles containing terms like “Bitcoin,” “Ethereum,” “blockchain” and “cryptocurrency” grew 395% in the U.S. from 2020 to 2021, outpacing the wider tech industry — which saw a 98% increase in listings during the same period,” LinkedIn wrote.