Fidelity crypto chief: Hiring will "explode"
Chris Tyrer, Fidelity’s head of digital asset management in Europe, has compared the crypto- currency climate to the build up to the 2000s commodities boom.
Speaking at the Digital Asset Summit in London this week, he called the pressures on the commodities job market two decades ago “immense” due to an “exploding” asset class and banking industry. He said that he “fully expects” those conditions will return in the crypto market.
Tyrer added that Fidelity has indulged in a “fairly aggressive hiring spree over the last 12 months” and had likely more than doubled headcount for digital assets. Hiring isn't over: Fidelity wants to add over 100 new roles over the next three to six months. Tyrer said it's a good time to hire cut-price talent.
The bull market that crypto enjoyed – which peaked in November last year – drew people away from traditional financial institutions to tech companies with higher risk appetites and longer-term windows, although the ongoing crypto winter has taken the steam out of the job hunt.
“I think that has definitely calmed down,” Tyrer said, “so now it's been a) retention, but b) hiring has become a lot more straightforward. But I think that will change again, in the future.”
He also said that banks were more optimistic about the crypto-currency market than generally perceived and that their activity "is picking up rather than slowing down.”
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