Coinbase is ramping up hiring in the United States, and CEO Brian Armstrong credits former President Donald Trump’s pro-crypto stance for the move.
In a video posted on X on March 7, Armstrong revealed that the exchange plans to add approximately 1,000 employees in the U.S. this year. “This is a direct result of his actions already in the first 60 days or so,” he said, highlighting the impact of Trump’s policies on the industry.
The hiring spree would increase Coinbase’s workforce by about 27%, based on Stockanalysis data that estimates the company currently has 3,772 employees. “President Trump has breathed life back into the crypto industry,” Armstrong stated.
Armstrong noted that the current Congress is the “most pro-crypto” the U.S. has ever had.
Over the past month, COIN shares have fallen 22.4%, closing at $217.45 on March 7, according to Google Finance. Just two years ago, Coinbase had taken the opposite approach, laying off nearly 1,000 employees in January 2023 to cut operating costs by 25%. At the time, Armstrong reassured investors that the company remained well-capitalized, emphasizing that “crypto isn’t going anywhere” despite market challenges.
The hiring expansion comes despite a recent dip in Coinbase’s stock price.
Reflecting on his recent time at the World Economic Forum (WEF) in Davos, Armstrong revealed that conversations with major market leaders were dominated by Trump’s plans for digital assets. “Basically, every conversation I had with major market leaders was focused on what the Trump administration planned to do on crypto,” Armstrong said.
Just recently, Coinbase CEO Brian Armstrong said U.S. President Donald Trump’s crypto agenda has become a central topic of discussion across the crypto industry, financial markets, and the tech world.
During the WEF, Trump pledged to make the United States the “world capital of artificial intelligence and crypto.”
This commitment, one of his first public statements since taking office on Jan. 20, has set a transformative tone for the industry.
He added that Trump’s bold vision is pushing industry players to step up, with many striving to avoid being left behind in the rapidly evolving landscape.