"People forget that the collapse of FTX and the launch of ChatGPT were less than a month apart"
"There was a period of time in the crypto industry where it was looking very negative for crypto and very promising for AI."
"We started doing this report four years ago, when crypto was in its teenage years,"
"But now the world takes crypto seriously... the industry just got a lot more matur"
Since November 2022 approximately 1,000 workers left crypto for AI startups while crypto firms hired a roughly equal number from traditional finance, consulting, and tech. The collapse of FTX and the launch of ChatGPT occurred within a month, creating a temporary negative outlook for crypto and strong momentum for AI. Crypto has since rebounded: total market capitalization exceeded $4 trillion and Bitcoin reached new all-time highs this year. Political and regulatory shifts have eased oversight, and major institutions like JPMorgan, BlackRock, and Fidelity are expanding crypto offerings. Hiring patterns show increasing crossover between traditional finance and blockchain firms, signaling sector maturity.
Read at Fortune Crypto
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