Washington, DC – When leaving the White House cryptography summit on Friday, the CEO of Coinbase, Brian Armstrong, said that his US exchange plans to hire a thousand people due to the progress of the policy that the industry seems to be doing at the beginning of President Donald Trump’s second mandate.
“It has only been, what, 50 days or something, and has already created enough tail that we feel more safe to invest in the United States and grow our business here,” Armstrong told Coindesk. He said the hiring will take place this year.
Coinbase, specifically, observed the United States Commission of Securities and Securities to completely abandon its fundamental application action against the leading cryptographic platform in the United States. The company had been fighting the expensive legal dispute in federal courts about the fundamental questions in regulatory jurisdiction on digital assets. That question is now in the hands of Congress instead of continuing as a judicial fight and a ballast of coinbase resources.
Armstrong was among the dozens of people crowded in the state dining room of the White House for the first cryptographic summit with the White House, the main regulators and republican members of Congress. The great news that came to the meeting was Trump’s executive order the night before that required the establishment of a Bitcoin (BTC) reserve, which Armstrong supported.
“You really can’t have a better holder of this asset than the United States government,” he said. “It is becoming a central piece of the financial system, and I think it will be part of each diversified portfolio over time.”
Coinbase was a fundamental player during the 2024 elections, putting tens of millions of dollars to the political action committee focused on Fireshake cryptocurrencies. He said that Coinbase will continue to support the Super PAC, which did “an incredible job” to boost the 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 promised that he will make this country the cryptographic capital of the planet, and we are on the way to fulfill that promise,” he said in an interview after the closing of the summit, in which the ideas of the Crypto reserve played an important role.
“We were alone with approximately 30 of the best luminaries in space, and I think everyone was tremendously pleased,” he said.
In response to the concerns of the industry that the Bitcoin reserve is not initially organized to include a new investment, he said that the secretaries of the United States Treasury and Commerce departments have the order to weigh methods to buy bitcoins without loading taxpayers, and “both are excited to search for ways to do it.”
