Washington, DC – While leaving the White House crypto summit on Friday, CEO of Coinbase, Brian Armstrong, said that his American exchange planned to hire a thousand people because of the political progress that the industry seems to make at the start of President Donald Trump’s second term.
“It is only, what, 50 days or something like that, and it is already enough created with a rear wind for us to feel more confident to invest in the United States and develop our business here,” Armstrong told Coindesk. He said that hiring would take place this year.
Coinbase, in particular, looked at the American Commission for Securities and Exchange completely abandon its actions responsible for the application of laws against the main platform of American crypto. The company had fought the expensive legal dispute in federal courts for fundamental questions in regulatory competence on digital assets. This question is now in the hands of Congress rather than continuing as a legal fight and a trail on the resources of Coinbase.
Armstrong was one of the dozens of people piled up in the dining room in the White House state for the first crypto summit with the White House, leading regulators and upper republican members of the congress. The big news in the meeting was Trump’s decree the previous night who called for the creation of a Bitcoin reserve (BTC), which Armstrong has approved.
“You can’t really have a better holder of this asset than the American government,” he said. “It becomes a central element of the financial system, and I think it will be part of each portfolio diversified over time.”
Coinbase was a pivotal player in the 2024 elections, putting tens of millions of dollars towards the Crypto Fairshake political action committee. He said Coinbase will continue to support the Super PAC, which has done “incredible work” to stimulate 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 industry.
“The president made a promise he was going to make this country the cryptographic capital of the planet, and we are about to keep this promise,” he said in an interview after the end of the summit, in which crypto reserve ideas played an important role.
“We were just with around thirty of the greatest spaces in space, and I think everyone was extremely satisfied,” he said.
In response to industry concerns that the Bitcoin reserve is not initially organized to include new investments, he stressed that the Secretaries of the American Treasury and Trade Services are ordered to weigh Bitcoin purchasing methods without retreating taxpayers, and “the two are delighted to search for ways to do so”.
