Crypto: Coders See Crypto As Valley’s New Faster Fortification Job

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Oakland: When Sandy Carter stepped down as vice president of Amazon’s cloud computing unit this month, she said she was joining a crypto technology company. She has included a link for open positions at startup. Within two days, she said, more than 350 people – many from the biggest internet companies – had clicked the link to apply for jobs at Unstoppable Domains.

Carter is part of a wave of executives and engineers leaving comfortable jobs at Google, Amazon, Apple and other big tech companies – some of which pay millions of dollars in annual compensation – to hunt what they see as a unique generation. opportunity. The next big thing is crypto, they said, a catch-all designation that includes digital currencies like Bitcoin and products like non-fungible tokens (NFTs) that rely on the blockchain. Silicon Valley is now teeming with stories of people making seemingly ridiculous crypto investments like Dogecoin, a digital coin based on a dog meme, into life-changing wealth. Bitcoin has climbed around 60% this year, while Ether, the cryptocurrency linked to the Ethereum blockchain, has more than quintupled in value.

Crypto may not be different from the speculative bubbles of the past like subprime mortgages or the 17th-century tulip craze, skeptics said. Much of the mania, they said, is driven by the desire to get rich quick by trading an asset class that often seems based on internet jokes.

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