The share of global crypto developers based in the United States declined by 26% from 2018 to 2022, according to a report from venture capital firm Andreessen Horowitz, also known as a16z. The report, titled “State of Crypto 2023,” cited data from Electric Capital and SimilarWeb (NYSE:SMWB) to support its findings.
A summary of the report’s findings stated that “Between 2018 and 2022, the proportion of crypto developers based in the U.S. vs. the rest of the world fell 26%.”