Crypto’s workforce took an early hit from the artificial intelligence boom, but has since rebounded, according to Andreessen Horowitz’s State of Crypto 2025 report released Wednesday.
The firm found that around 1,000 jobs have shifted from crypto companies to AI startups since the launch of ChatGPT in late 2022, but an equivalent number of professionals have joined the industry from other sectors.
The report analyzed job movements from Nov. 2022 to Sept. 2025 and showed that crypto has lost workers to AI startups, which continue to attract technical talent.
However, the sector has replenished its ranks with new hires from technology, finance, consulting and education. Roughly 12,000 people moved into or out of crypto roles during that period, suggesting a dynamic and fluid job market.
A16z said crypto gained about 1,000 net jobs from other industries even as AI pulled away a similar number of employees.
The largest inflows came from tech firms, which contributed over 12,000 professionals, followed by finance and consulting with around 6,000. Smaller inflows came from education and other sectors.
The shift shows the increasingly intertwined relationship between crypto and AI. Since ChatGPT’s debut, AI has drawn both capital and talent across the tech landscape. Many developers have pivoted to AI projects, while others have found new opportunities in crypto’s resurgent markets.
ChatGPT’s arrival in Nov. 2022 coincided with one of crypto’s darkest periods, marked by the collapse of FTX and a sharp contraction in venture funding. At the time, job losses, declining token prices, and regulatory uncertainty shook the industry’s confidence.
Today, the landscape looks very different. The global crypto market capitalization has surpassed US$4 trillion, with Bitcoin reaching new record highs this year. The rebound comes amid a friendlier regulatory tone from the Trump administration, which has supported legislation for stablecoins and digital asset oversight. Institutional adoption is also deepening as firms such as JPMorgan, BlackRock, and Fidelity expand their crypto offerings.
A16z’s analysis shows that much of the new hiring in crypto now comes from professionals with finance and fintech backgrounds, reflecting the sector’s gradual convergence with traditional financial systems.
The firm noted that crypto’s talent pipeline is diversifying beyond developers, with growing demand for compliance, infrastructure, and product specialists.
