The US crypto industry directly supports more than 34,000 jobs and is on track to contribute over $55 billion to the economy in 2026, according to a new report from the National Cryptocurrency Association.

The Crypto at Work report, produced with the Pragmatic Policy Group, estimates that the sector also supports 232,000 jobs across related industries through indirect and induced economic activity. Each direct crypto position generates roughly six additional roles elsewhere in the economy, the report said.

Jobs associated with the industry pay an average annual wage of about $133,000, more than double the national median, according to the study. The report found that crypto’s economic impact extends beyond financial services, contributing an estimated $3.6 billion to professional services and $3 billion to housing.

California accounts for more than 57,600 direct and related jobs, while North Carolina supports over 9,500. More than 17,000 positions are located across states in the US Heartland, suggesting that the industry’s employment impact extends beyond major financial and technology centers.

The analysis was conducted using an input and output economic model based on publicly available data from the US Bureau of Economic Analysis. It measured the industry’s direct employment alongside spending generated through suppliers and worker income across different sectors and states.

“What we are seeing in this data, and hearing directly from businesses and workers across the country, is how the crypto industry in America has become an economic driver,” NCA President Stu Alderoty said.

The findings follow a separate NCA survey published in May that estimated more than 67 million Americans now own crypto, an increase of 12 million from the previous year.