Coinspeaker
Coinbase: US Falling Behind in Crypto Development amid Talent Shortage
Renowned crypto exchange platform Coinbase has recently reported that corporate giants are planning to transition to on-chain platforms but the nation lacks the skilled talent to support this shift.
According to its “State of Crypto” report, the number of developers with roots in America has declined 14% in the past five years. Notably, the region accounts for only 26% of the world’s crypto developers, a concerning trend for crypto enthusiasts.
Paul Grewal, the Chief Legal Officer at Coinbase, pointed out the potential repercussions of this decline in a post on social media platform X. He said that while corporate adoption of crypto and on-chain activities is on the rise, the US might lose its position as the global leader in technological innovation. Moreover, Grewal urged the Biden administration to take proactive measures to reverse this trend.
“Global leadership in technological
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