The United States now accounts for just 18.8% of global crypto developers, a drop of 51% over the past year.
According to new data from Maria Shen, a general partner at Electric Capital, the decline suggests that the nation could be losing its competitive edge in a field where innovation is paramount, attributing the trend to the country’s challenging regulatory landscape.
On the other hand, Asia’s share of crypto developers climbed from 13% to 32% in the past year.
“For the first time, Asia is the #1 continent for crypto talent,” Shen wrote on X.
The U.S. Leads in Developer Presence
Despite the downturn, the U.S. still leads in developer presence, followed by India at 11.8% and the U.K. at 4.2%.
Interestingly, 64% of U.S.-based developers reside outside California and New York, presenting an opportunity for job and wealth creation, according to Shen.
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