Coinbase CEO Brian Armstrong Announces Plans to Hire 1,000 Employees in the U.S. Amid Changes in the Crypto Industry

Brian Armstrong noted that recent policy changes require additional efforts in the US, while the head of the presidential task force, Hynes, said Trump is delivering on his promises regarding cryptocurrencies.

Jesse Hamilton | Edited by Nikhilesh De Updated Mar 7, 2025 23:14 UTC Published Mar 7, 2025 23:06 UTC

Key points:

• Coinbase CEO Brian Armstrong said that changes in the US government's sentiment towards cryptocurrencies will lead to the company hiring a thousand employees in 2025.
• Armstrong was among leading figures in the cryptocurrency industry who attended the White House Cryptocurrency Summit on Friday.
• Bo Hines, the head of Trump's cryptocurrency task force, told CoinDesk that the administration is “excited” to explore ways to attract active investment to create a new government reserve of bitcoin.

WASHINGTON, D.C. — As he left a White House crypto summit on Friday, Coinbase CEO Brian Armstrong said his U.S. exchange plans to hire 1,000 people in light of the political progress the industry has made at the start of President Donald Trump's second term.

“It’s only been 50 days or so, but it’s already created enough favorable conditions that we’re starting to feel more confident about investing in the United States and growing our business here,” Armstrong told CoinDesk, adding that hiring will begin later this year.

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Coinbase, in particular, has seen the U.S. Securities and Exchange Commission completely abandon its major enforcement action against the leading U.S. crypto platform. The company was fighting expensive litigation over important issues in digital asset regulation. The issue is now in the hands of Congress rather than continuing to be a legal burden on Coinbase’s resources.

Armstrong was among a crowd gathered in the White House dining room for the first cryptocurrency summit with White House officials, top regulators, and high-profile Republicans from Congress. The big news from the meeting was an executive order Trump signed the day before that called for the creation of a Bitcoin (BTC) reserve, which Armstrong supported.

“The United States government is the best holder of this asset,” he said. “It will become the core of the financial system, and I believe that over time it will be part of every diversified portfolio.”

Coinbase played a major role in the 2024 election by investing tens of millions of dollars in Fairshake's crypto-focused political action committee. He said Coinbase would continue to support the super PAC, which has done “incredible work” in supporting pro-crypto candidates.

Bo Hines, executive director of the President's Task Force on Digital Assets, told CoinDesk that Friday's summit demonstrates Trump's commitment to the crypto industry.