Coinbase to Add 1,000 US Jobs in 2025, Thanks to Trump's Pro-Crypto Policies

Coinbase CEO Brian Armstrong announced that the cryptocurrency exchange is planning to hire approximately 1,000 new employees in the United States in 2025. This hiring surge comes as a direct result of the pro-crypto stance and actions taken by President Donald Trump, according to Armstrong. The news follows the White House Crypto Summit, where Armstrong shared insights into the company's growth plans.

Hiring Spree to Boost Coinbase's Workforce by 27%

Armstrong revealed in a video posted to X on March 7 that the strong support for crypto from the Trump administration has played a pivotal role in driving Coinbase's decision to expand its workforce. He noted that these policies are vital for the industry, stating, “These policies really matter; this is the most pro-crypto Congress we’ve ever seen as well.”

The additional 1,000 employees would increase Coinbase's headcount by approximately 27%, based on recent data from Stockanalysis, which reports the exchange currently employs 3,772 people. Armstrong filmed the video outside the White House in Washington D.C., following his attendance at the historic White House Crypto Summit alongside notable crypto leaders like Tyler and Cameron Winklevoss of Gemini, Michael Saylor of Strategy, and Kris Marszalek of Crypto.com.

Historic Moment for the Crypto Industry

Armstrong described the summit as an "incredible event" and a "historic moment for our industry," highlighting the positive shift in US policies that have breathed new life into the crypto sector. According to Armstrong, President Trump’s actions have reinvigorated the industry and created a favorable environment for companies like Coinbase to expand.

Stock Decline Amid Broader Market Downturn

Despite the hiring plans, Coinbase’s stock (COIN) has faced a significant decline. The stock dropped by 22.4% over the past month, closing at $217.45 on March 7, according to Google Finance. This dip coincides with a wider downturn in both the crypto and stock markets, partly triggered by Trump’s proposed tariffs on China, Canada, and Mexico announced on February 1.

A Sharp Contrast to Previous Layoffs

The announcement of new hires comes just two years after Coinbase made similar staffing cuts during the crypto winter of 2023. In January 2023, Armstrong confirmed the exchange would lay off 950 employees as part of efforts to reduce operating costs by 25%. At that time, Armstrong emphasized that Coinbase remained “well capitalized” and that the crypto industry was far from being a passing trend.

Despite the volatility in the market, Armstrong’s announcement underscores the renewed optimism surrounding the US crypto industry, spurred by Trump’s regulatory shift and growing support in Washington. With a stronger pro-crypto regulatory environment, Coinbase is gearing up to expand, confident in the industry's long-term potential.

As the market stabilizes, the job growth at Coinbase marks a positive step for the broader cryptocurrency sector, signaling a future that could be shaped by continued innovation and development in digital assets.