Coinbase to add 1,000 US jobs in 2025, credits Trump—Armstrong

Coinbase plans to ramp up hiring in the U.S., according to CEO Brian Armstrong, who announced it after the White House Crypto Summit.  

Brian Armstrong credited President Donald Trump’s crypto-friendly approach as the reason behind Coinbase’s hiring surge in the U.S.  

“Coinbase is planning to hire about 1,000 people in the United States this year as a direct result of his actions already in the first 60 days or so,” Armstrong said in a video posted to X on March 7.

“These policies really matter; this is the most pro-crypto Congress we’ve ever seen as well,” he said.

With Coinbase’s workforce currently at 3,772, the planned addition of 1,000 employees would increase the company’s staff by 27%, according to the latest Stockanalysis report.  

Outside the White House in Washington, D.C., Armstrong recorded a video after attending the White House Crypto Summit. He stood alongside prominent crypto leaders, including the Winklevoss brothers, Michael Saylor, and Kris Marszalek.

“We just left the digital asset summit at the White House. It was an incredible event and a really historic moment for our industry,” Armstrong said.

“President Trump has breathed life back into the crypto industry,” he added.

Coinbase remains focused on hiring new employees, even though its (COIN) stock has dropped 22.40% in the past month.  

Google Finance reports that COIN closed at $217.45 on March 7.  

A broader market slump, which Trump’s proposed tariffs on China, Canada, and Mexico on February 1 triggered, coincides with COIN’s recent drop.  

This hiring spree contrasts with Coinbase’s decision two years ago to lay off a comparable number of employees during the crypto winter and its consideration of moving its headquarters out of the US.  

As a cost-cutting measure, Coinbase eliminated 950 jobs in January 2023. Armstrong noted that the company aimed to reduce expenses by 25%.  

Armstrong explained that despite Coinbase’s solid financial position and the resilience of crypto, the company needed to conduct layoffs to maintain appropriate operational efficiency.