{"id":9460,"date":"2025-03-08T07:53:39","date_gmt":"2025-03-08T06:53:39","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=9460"},"modified":"2025-03-08T07:53:39","modified_gmt":"2025-03-08T06:53:39","slug":"coinbase-to-expand-workforce-by-1000-in-2025-fuelled-by-trumps-influence-brian-armstrong","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/03\/08\/coinbase-to-expand-workforce-by-1000-in-2025-fuelled-by-trumps-influence-brian-armstrong\/","title":{"rendered":"Coinbase to Expand Workforce by 1,000 in 2025, Fuelled by Trump’s Influence \u2014 Brian Armstrong"},"content":{"rendered":"

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Coinbase Chief Executive Officer Brian Armstrong mentioned that the robust backing for cryptocurrency from United States President Donald Trump has prompted the exchange to embark on a recruitment drive within the US.<\/p>\n

\u201cCoinbase intends to employ approximately 1,000 individuals in the United States this year as a direct consequence of his actions within the first 60 days or so,\u201d Armstrong stated in a video shared<\/a> on X on March 7.<\/p>\n

Recruitment drive set to substantially increase Coinbase\u2019s workforce<\/h2>\n

\u201cThese regulations truly matter; this is the most pro-crypto Congress we’ve ever witnessed as well,\u201d he remarked. Adding 1,000 additional employees would elevate Coinbase’s total staff by approximately 27%, based on Stockanalysis\u2019 latest statistics<\/a>, indicating that the cryptocurrency exchange currently employs 3,772 individuals.<\/p>\n

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Source: <\/em>Brian Armstrong<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

Armstrong recorded the face-to-camera message outside the White House in Washington D.C. after participating in the White House Crypto Summit with various prominent figures in the cryptocurrency sector<\/a> including Gemini founders Tyler and Cameron Winklevoss, Strategy founder Michael Saylor, and Crypto.com CEO Kris Marszalek.<\/p>\n

COIN value declines amidst broader market downturn<\/h2>\n

\u201cWe just departed the digital asset summit at the White House. It was an extraordinary event and a truly historic moment for our sector,\u201d Armstrong remarked.<\/p>\n

\u201cPresident Trump has revitalized the cryptocurrency industry,\u201d he continued.<\/p>\n

Related: <\/strong><\/em>Coinbase files FOIA to understand the cost of the SEC\u2019s \u2018war on crypto\u2019<\/strong><\/em><\/a><\/p>\n

The recruitment strategy comes even as Coinbase\u2019s (COIN) share price has decreased by 22.40% in the previous month. COIN\u2019s value was recorded at $217.45 on March 7, as per<\/a> Google Finance data.<\/p>\n

The downturn corresponds with a broader decline in both the cryptocurrency and stock markets following Trump\u2019s proposed tariffs on China, Canada, and Mexico on February 1<\/a>.<\/p>\n

\"Coinbase,
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Source: <\/em>Google Finance<\/em><\/a><\/p>\n<\/figcaption><\/figure>\n

In contrast, merely two years prior, the cryptocurrency exchange had to downsize its workforce by a comparable number during the ongoing crypto winter. In January 2023, Armstrong announced plans to eliminate 950<\/a> positions as part of the company\u2019s efforts to reduce operational expenses by approximately 25%.<\/p>\n

Armstrong highlighted at that time that Coinbase is \u201cwell capitalized\u201d and crypto \u201cisn\u2019t going anywhere,\u201d but the business must proceed with layoffs to ensure \u201cadequate operational efficiency.\u201d<\/p>\n

Magazine: <\/strong><\/em>SEC\u2019s U-turn on cryptocurrency leaves significant queries unanswered<\/strong><\/em><\/a><\/p>\n