Coinbase CEO Brian Armstrong on Friday, announced that the company plans to hire 1,000 new employees in the U.S. this year. Armstrong announced the White House’s inaugural crypto summit, citing positive developments in the regulatory environment under President Donald Trump’s second term.
Armstrong explained that after just 50 days into Trump’s second term, the shift in crypto policies had already created enough momentum for Coinbase to confidently expand its operations in the United States. This hiring spree reflects Coinbase’s renewed confidence in the U.S. market as regulatory uncertainties appear to be easing.
“We feel more confident in investing in the United States and growing our business here,” Armstrong told CoinDesk.
The hiring initiative is part of Coinbase’s broader effort to capitalize on the growing support for the crypto industry at the federal level.
A key turning point for Coinbase was the recent decision by the U.S. Securities and Exchange Commission (SEC) to abandon its pivotal enforcement action against the company. Coinbase had been embroiled in a costly legal battle over jurisdictional issues related to digital asset regulation. The SEC’s retreat is seen as a victory for Coinbase, clearing a significant roadblock for the company and allowing it to focus on expansion rather than litigation.
The White House Summit and the U.S. Bitcoin Reserve
During the inaugural White House Crypto Summit, Coinbase CEO Brian Armstrong voiced his strong support for President Donald Trump’s executive order calling for the establishment of a U.S. Bitcoin reserve. Armstrong, alongside industry leaders and key political figures, gathered at the summit to discuss the future of digital assets in the U.S., marking a significant step toward government engagement with the crypto industry.
Armstrong expressed enthusiasm for Trump’s announcement, asserting that the U.S. government is the ideal custodian for Bitcoin. He emphasized that Bitcoin would eventually become a key component of diversified investment portfolios.
“I think it’s becoming a core piece of the financial system, and I think it’s going to be a part of every diversified portfolio over time,” Armstrong stated.
Beyond regulatory matters, Armstrong highlighted Coinbase’s continued commitment to supporting pro-crypto candidates through political action committees. In 2024, Coinbase played a pivotal role in supporting the Fairshake super PAC, which backed crypto-friendly candidates.
The Summit’s Broader Impact
Bo Hines, the executive director of the President’s Working Group on Digital Assets, emphasized President Trump’s dedication to transforming the U.S. into the global leader of the cryptocurrency market. In an interview with CoinDesk after the summit, Hines spoke about the President’s pledge to make the United States the “crypto capital of the planet.” Hines noted that the summit marked a significant step toward fulfilling that promise.
A central topic at the summit was Trump’s proposed strategic Bitcoin reserve, which has become a cornerstone of his administration’s policy on digital assets. Hines pointed out that although the reserve is not initially designed to include new investment, the U.S. Treasury and Commerce secretaries have been tasked with exploring ways to acquire Bitcoin without burdening taxpayers.
Quick Facts:
- Coinbase plans to hire 1,000 employees in the U.S. by the end of 2025, CEO Armstrong revealed after Friday’s Summit, citing a favorable shift in crypto policy.
- President Trump’s executive order to establish a Bitcoin reserve has received support from key crypto industry players, including Armstrong.
- Trump’s administration has shown a strong commitment to bolstering the U.S. crypto sector, with an emphasis on strategic growth and industry leadership.
