NCA-Commissioned Report Estimates U.S. Crypto Industry Directly Employs 34,000 and Will Contribute More Than $55 Billion to GDP in 2026

A report commissioned and funded by the Ripple-backed National Cryptocurrency Association and conducted by Pragmatic Policy Group estimates that the U.S. cryptocurrency industry directly employs 34,000 people and will contribute more than $55 billion to U.S. GDP in 2026. The model estimates that the industry supports 232,000 jobs in total through direct employment, supplier activity, and worker spending, with California, New York, and Texas accounting for about 60% of those supported jobs.

U.S. crypto economic contribution

• ▪The National Cryptocurrency Association report estimates that approximately $31 billion of the cryptocurrency industry's total economic contribution flows to workers as labor income
• ▪The National Cryptocurrency Association released a report estimating that the U.S. cryptocurrency industry will contribute more than $55 billion to U.S. GDP in 2026
• ▪The National Cryptocurrency Association report estimates that the average annual wage across all supported jobs is $133,000, compared to a national median of $64,000

Direct crypto employment figures

• ▪The National Cryptocurrency Association report estimates that the U.S. cryptocurrency industry directly employs approximately 34,000 people
• ▪The National Cryptocurrency Association report estimates that the U.S. cryptocurrency industry supports a total of 232,000 jobs across the broader economy
• ▪The National Cryptocurrency Association report estimates that software, blockchain, and data engineering roles form the largest direct occupational group with 10,100 positions

State-level job concentration

• ▪California, New York, and Texas account for about 60% of the 232,000 jobs the report estimates are supported by the U.S. cryptocurrency industry, with California supporting 57,649 jobs, New York supporting 53,766 jobs, and Texas supporting 26,536 jobs
• ▪The National Cryptocurrency Association report identifies Colorado and North Dakota as rising blockchain and digital infrastructure hubs due to favorable state tax and regulatory policies

NCA Ripple funding disclosure

• ▪The National Cryptocurrency Association launched in March 2025 as a non-profit organization with $50 million in backing from Ripple Labs
• ▪Stuart Alderoty, the chief legal officer of Ripple Labs, serves as the president and head of the National Cryptocurrency Association

Report methodology framework

• ▪Pragmatic Policy Group modeled cryptocurrency financial activities using the occupational mix of broader technology industries because a dedicated cryptocurrency industrial classification does not exist
• ▪Pragmatic Policy Group conducted the economic analysis using an input-output model based on 2024 data from the Bureau of Economic Analysis and Bureau of Labor Statistics