When bitcoin first appeared on the market more than a decade ago, Wall Street titans sneered. They’re already paying enticing premiums to crypto recruits, gathering a legion of ardent supporters within the normally stodgy world.
Some of the biggest banks and financial firms have added about 1,000 crypto-related roles since 2018, according to Revelio Labs, which collected the data by scraping LinkedIn. Among those hiring the most are JPMorgan Chase & Co., Wells Fargo & Co., and Goldman Sachs Group Inc., which shored up their ranks as demand for the fast-developing virtual currencies ballooned.
The growth of Wall Street’s legions has been accompanied by an uneasy and at times tense relationship with Bitcoin. As bitcoin values soared to unprecedented heights and experienced periodic falls, banks had generally remained away but are now championing crypto.