WASHINGTON, D.C. — When he left the White House Crypto Summit on Friday, Coinbase CEO Brian Armstrong said his US exchange was planning to hire 1,000 people as it appears the industry is doing its job at the beginning of President Donald Trump’s second term.
“It was, 50 days or something like that, and I feel confident in my investment in the US and growing my business here because it’s already creating enough tailwinds,” Armstrong told Koindsk. He said employment will be made this year.
Coinbase specifically saw the US Securities and Exchange Commission waive altogether pivotal enforcement action against major US crypto platforms. The company was fighting expensive legal disputes in federal courts over fundamental issues in regulatory jurisdiction over digital assets. The question is in the hands of Congress rather than contesting and dragging Coinbase resources.
Armstrong was among dozens of people crowded in the White House state cafeteria for the first crypto summit with the White House, major regulators and senior Republicans in Congress. The big news that comes up at the meeting was Trump’s executive order on the eve of the day calling for the establishment of a Bitcoin (BTC) reserve, which Armstrong supported.
“You can’t really have a better holder of this asset than the US government,” he said. “It’s becoming a core part of the financial system and I think it will become part of all diversified portfolios over time.”
Coinbase was a vital player during the 2024 election, spending tens of millions of dollars on fairshakes for the political action committee focused on code. He said Coinbase will continue to support Super PAC. Super PAC did “an incredible job” to boost Procrypt candidates.
Bo Hines, executive director of the president’s working group on digital assets, told Coindesk that Friday’s summit represents Trump’s commitment to the industry.
“The President has promised that he intends to make this country the capital of the Earth’s cryptocurrency, and we are on the way to provide that promise,” he said in an interview after the end of the summit after the idea of a supplementary code played a key role.
“We were about 30 well-known celebrities in the space, and I think everyone was very pleased,” he said.
Responding to industry concerns that Bitcoin Reserve is not organized to include new investments first, he pointed out that U.S. Treasury and Commerce secretaries are being ordered to weigh the ways in which they can buy Bitcoin without burdening taxpayers, and that he “is excited to look into how both of them do that.”