Coinbase CEO Armstrong Says He'll Hire 1,000 in U.S. as Crypto Tide Turns

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By Jesse Hamilton | Edited by Nikhilesh De Mar 7, 2025, 11:06 p.m. UTC Coinbase CEO Brian Armstrong says after the White House summit that he'll hire 1,000 in the U.S. (Jesse Hamilton/CoinDesk) What to know : Coinbase CEO Brian Armstrong says the shift in the U.S. government's crypto sentiment will lead to the company hiring a thousand people in 2025. Armstrong was among those attending the White House crypto summit. WASHINGTON, D.C. — As he walked out of the White House's crypto summit on Friday, Coinbase CEO Brian Armstrong said his U.S. exchange is planning to hire a thousand people because of the policy progress the industry seems to be making at the beginning of President Donald Trump's second term. "It's only been, what, 50 days or something like that, and it's already created enough of a tailwind that we feel more confident in investing in the United States and growing our business here," Armstrong told CoinDesk. He said the hiring would take place this year. STORY CONTINUES BELOW Don't miss another story. Subscribe to the State of Crypto Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy . Coinbase, specifically, watched the U.S. Securities and Exchange Commission completely abandon its pivotal enforcement action against the leading U.S. crypto platform. The company had been fighting the expensive legal dispute in federal courts over fundamental questions in regulatory jurisdiction over digital assets. That question is now in Congress' hands rather than continuing as a court fight and a drag on Coinbase's resources. Armstrong was among dozens of people crowded into the White House's State Dining Room for the first crypto summit with the White House, leading regulators and senior Republican members of Congress. The big news coming into the meeting was Trump's executive order the night before that called for the establishment of a bitcoin (BTC) reserve, which Armstrong endorsed. "You can't really have a better holder of this asset than the United States government," he said. "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." Coinbase was a pivotal player during the 2024 election, putting tens of millions of dollars toward the crypto-focused political action committee Fairshake. He said Coinbase will keep backing the super PAC, which did "an incredible job" in boosting pro-crypto candidates. Bo Hines, the executive director of the President’s Working Group on Digital Assets, told CoinDesk that Friday's summit represented Trump's commitment to the industry. "The president made a promise that he's going to make this country the crypto capital of the planet, and we're well on our way in delivering that promise," he said in an interview after the close of the summit, in which the crypto reserve ideas played a significant part. "We were just with 30 or so of the greatest luminaries in the space, and I think everyone was tremendously pleased," he said. In answer to industry concerns that the bitcoin reserve isn't initially organized to include new investment, he pointed out that the secretaries of the U.S. Treasury and Commerce departments are ordered to weigh methods of buying bitcoins without burdening taxpayers, and "both of them are excited to look into ways to do it." Coinbase Donald Trump Hiring Regulation Jesse Hamilton Jesse Hamilton is CoinDesk's deputy managing editor on the Global Policy and Regulation team, based in Washington, D.C. Before joining CoinDesk in 2022, he worked for more than a decade covering Wall Street regulation at Bloomberg News and Businessweek, writing about the early whisperings among federal agencies trying to decide what to do about crypto. He’s won several national honors in his reporting career, including from his time as a war correspondent in Iraq and as a police reporter for newspapers. Jesse is a graduate of Western Washington University, where he studied journalism and history. He has no crypto holdings. X icon About About Us Masthead Careers CoinDesk News Crypto API Documentation Contact Contact Us Accessibility Advertise Sitemap System Status DISCLOSURE & POLICES CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies . CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. 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