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Deloitte signals new commitment to Web3 with 300 new job roles

Big Four accounting firm Deloitte has announced that it intends to hire 300 individuals with competencies in blockchain technology and Web3 within the United States.

The vacancies were listed on LinkedIn, with a large chunk of them posted during the last seven days. The roles are spread across 97 locations in the U.S., the majority of which are for asset managers and tax experts.

For the role of a “Blockchain & Digital Assets Manager,” the audit firm notes that successful applicants will be saddled with the duties of providing audit readiness for blockchain and digital assets and compliance with Securities and Exchange Commission (SEC) guidelines. Other duties include the provision of accounting advisory and financial statement audits in line with the role’s requirements.

Deloitte is also keen on filling up the role of a Tax Manager for digital assets across multiple locations in the U.S., with applicants expected to have sufficient expertise in blockchain and digital currencies. Since its publication on LinkedIn, over 1,000 individuals have submitted their applications for the role, giving the firm a deep talent pool to beef up its ranks.

Deloitte is the only Big Four audit firm with ambitious plans to go all in with digital currencies as other firms opt for a slow-and-steady approach. A search for digital currency roles at the trio of PricewaterhouseCoopers (PwC), KPMG, and Ernst & Young turned up zero results.

Deloitte had previously dug its heels in the ground in January after Circle hired it to conduct an audit on its proof of reserves amid speculation that none of the Big Four audit firms will be willing to audit digital currency firms. For over two years, Deloitte has enjoyed a healthy business relationship with digital asset exchange Coinbase (NASDAQ: COIN), serving as the platform’s accounting firm of choice.

Both Mazars Group and Armanino, firms with KuCoinBinance, and Crypto.com on their client list, have announced the termination of providing audit services to digital asset exchanges.

Hiring amid massive job cuts

The Web3 industry has been rattled by a wave of job cuts since the start of the year and shows little signs of slowing down. In the first quarter of the year, over 3,000 roles were terminated by leading firms in the industry as they cited uncertain macroeconomic conditions and dwindling transaction volumes for the job cuts.

Coinbase, Huobi, Kraken, and Crypto.com have all bitten the bullet to reduce their headcount, while Dapper Labs and Messari disclosed that the layoffs were due to internal restructuring. As the “crypto winter” drags on, analysts have urged stakeholders to brace for more job cuts in Q2 triggered by inflation and the ripple effects of the implosions from 2022.

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