Coinbase to hire 1,000 as U.S. crypto rules become clearer
Coinbase to expand U.S. hiring by 1,000 in 2025
In a landmark moment for the U.S. cryptocurrency industry, Coinbase CEO Brian Armstrong praised the outcomes of the White House Digital Asset Summit, calling it a “historic day.”
Key takeaways
- Coinbase CEO Brian Armstrong praised U.S. leadership for establishing a Strategic Bitcoin Reserve.
- As a result of improved regulatory transparency, Coinbase plans to hire 1,000 employees in the U.S. in 2025.
- Despite positive developments, Coinbase’s stock (COIN) has dropped 23.3% in the past month, reflecting overall market volatility.
In a post on X, Armstrong expressed gratitude to President Joe Biden and entrepreneur David Sacks for their leadership in establishing the U.S. Strategic Bitcoin Reserve and advancing clearer regulations for digital assets.
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“This directly contributes to economic growth in the U.S.,” Armstrong stated. “For example, Coinbase plans to hire about 1,000 employees in the U.S. this year as a result of this renewed growth.”
Coinbase expands as crypto Ppolicy evolves
Armstrong’s remarks signal a significant shift in the regulatory landscape for cryptocurrencies in the U.S. For years, the lack of clear guidelines has been a major concern for industry leaders. However, the latest summit suggests movement toward greater regulatory clarity, which could encourage broader institutional adoption of Bitcoin and other digital assets.
Coinbase’s decision to aggressively expand hiring sharply contrasts with its position just two years ago. In January 2023, amid a prolonged crypto bear market, the exchange laid off 950 employees as part of cost-cutting measures aimed at reducing operating expenses by 25%. The so-called “crypto winter” led to widespread layoffs across the industry, with many firms struggling to stay afloat.
Now, with a more favorable regulatory environment and the potential for government-backed Bitcoin reserves, the exchange is shifting course, betting on long-term industry growth in the U.S.
Coinbase stock faces short-term decline
Despite the positive outlook, Coinbase’s stock (COIN) has seen a sharp decline in recent weeks. Over the past month, COIN has dropped 23.3%, closing at $217.45 on March 7, according to TradingView data.
Coinbase Stock Performance. Source: TradingView
The stock’s recent downturn reflects broader market volatility and investor concerns over regulatory uncertainty. However, Armstrong’s statement suggests that Coinbase remains optimistic about the long-term future of digital assets in the U.S.
As the country moves toward clearer regulations and institutional Bitcoin adoption, Coinbase’s hiring spree could be an early sign of a renewed crypto industry boom in America.
Earlier, the U.S. Securities and Exchange Commission (SEC) agreed to drop its lawsuit against Coinbase, pending approval from its commissioners.
