Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ADOPTION NEWS»New crypto hires are more likely to receive equity rather than tokens, Variant and USV research reveals.
ADOPTION NEWS

New crypto hires are more likely to receive equity rather than tokens, Variant and USV research reveals.

By Crypto FlexsDecember 22, 20234 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
New crypto hires are more likely to receive equity rather than tokens, Variant and USV research reveals.
Share
Facebook Twitter LinkedIn Pinterest Email

New hires in the cryptocurrency space are more likely to receive shares rather than tokens, according to a new survey conducted by venture capital firms Variant and Union Square Ventures.

To better understand what trends could emerge in 2023, which has been heavily impacted by the market downturn, the two cryptocurrency companies conducted a survey of companies in their investment portfolios.

Based on feedback gathered from conversations with employees at 32 web3 startups, the survey revealed a series of business implications: The majority of respondents said the bear market had not affected their hiring plans. Engineers dominate headcount and are compensated better than their peers. Corporate workforces are becoming increasingly geographically diverse.

While Variant and USV’s survey paints a fairly optimistic picture, many cryptocurrency companies have laid off large numbers of employees in 2023. Famous blockchain companies such as Binance coinbase, Dapper LabsOpenSea and Chainalytic both laid off employees during the year.

But according to reports from Variant and USV, it wasn’t all bleak on the recruiting and compensation front for 2023. “The data we collected suggests that cryptocurrency companies are not spending 2023 lamenting a bear market,” wrote survey co-authors Tom Dils, Calder Zwerling and Matt Cynamon. “Rather, they took advantage of market limitations to further decentralize operations, experiment with new compensation models, and increase the number of engineers.”

The main contents of the survey are as follows:

Equity compensation becomes popular

Research from Variant and USV suggests that unlike in the past when cryptocurrency companies tended to reward employees with tokens instead of assets, the reversal is now true.

“By 2023, new hires were three times more likely to receive equity rather than tokens,” the report said. From 2013 to 2018, employees typically received token compensation, but equity compensation was non-existent, the report said.

Variant and USV were reluctant to describe the new compensation method as a trend, but the survey indicated the change was significant. “While it is too early to describe this as a trend, the data suggests startups are experimenting with new incentive mechanisms that may make them less reliant on tokens than in previous cryptocurrency market cycles,” the report said.

Competition and Salaries

According to the survey, “Nearly 50% of survey respondents said they compete almost exclusively with other cryptocurrency startups for new hires.” Meanwhile, 25% said they compete primarily with web2 organizations. “This means that it is easier to recruit within web3 than attract new entrants to the cryptocurrency industry during a bear market,” he added.

Not surprisingly, with cryptocurrencies still evolving rapidly and becoming increasingly integrated, engineers dominate the workforce at the startups surveyed, making up 50% of employees. According to Variant and USV, engineers tend to be better paid than their internal colleagues or professional colleagues working outside of cryptocurrency. According to the survey, “Top-level web3 engineers earn a 23% premium, and early-career engineers earn 27% more than their mainstream counterparts.”

Variant and USV also found that startups typically have far fewer marketing and sales professionals compared to engineering staff. “The relative lack of sales-focused roles is a reminder that web3 is still in its early stages of construction,” the survey authors wrote.

Beyond America

While 70% of the startups surveyed are headquartered in North America, more than half of their employees live outside the U.S., the report said. Companies retaining staff outside the U.S. are not new in the cryptocurrency space, but the scope of geographic spending has increased over the past few years, the survey found.

According to the report, “56% of employees hired in 2020 or prior to 2020 are U.S.-based. However, for employees hired in the past three years (2021-2023),” that number drops to 46%.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

The best Solana depin project to form the future -Part 2

September 8, 2025

Ether Lee (ETH) tests major support for $ 4,453 after the highest rejection.

August 31, 2025
Add A Comment

Comments are closed.

Recent Posts

Bybit Becomes First Crypto Exchange To Partner With QNB Group And DMZ Finance To Accept QCDT, Unlocking Institutional Access To Digital Assets

September 19, 2025

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bybit Becomes First Crypto Exchange To Partner With QNB Group And DMZ Finance To Accept QCDT, Unlocking Institutional Access To Digital Assets

September 19, 2025

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025
Most Popular

$600,000 lost in cryptocurrency wallet due to ignored phishing attack

January 27, 2024

Is it too late to buy BILLY? Billy Price Surges 45% and This Could Be the Next Cryptocurrency to Explode.

June 20, 2024

Trump PARDONS BITMEX Crypto Exchange

March 29, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.