Asia has overtaken North America as the primary hub for crypto developers, according to Electric Capital’s recent report. Since 2015, Asia’s share of global crypto developers has climbed from 13% to 32%, while North America’s share dropped from 44% to 25%. Despite this shift, the United States still leads among individual countries, accounting for 18.8% of global crypto developers.

US Crypto Developer Landscape
While often associated with California and New York, where 22.3% and 13.7% of US developers are based, respectively, the majority—64%—work outside these states, reflecting potential for growth across the country.

Talent Drain and Regulatory Challenges
The report highlights a talent drain in the US, where 81% of blockchain developers now work abroad. The US’s share of global crypto developers has decreased by 51% since 2015, largely due to regulatory uncertainties and a “regulation-by-enforcement” approach, which has driven several firms to relocate to crypto-friendly hubs like Hong Kong and Singapore.

This decline in US crypto developer share may impact the nation’s digital currency innovation and national security, signaling a growing innovation gap.