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Coinbase CEO Reveals Plans to Hire 1000 Employees as US Gains Crypto Clarity

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Coinbase CEO Brian Armstrong has announced plans to hire 1,000 employees in the United States in 2025, attributing the decision to recent regulatory advancements under President Donald Trump’s administration. Armstrong made the statement following the White House Crypto Summit, where he and other industry leaders met with government officials to discuss crypto regulation policies.

Coinbase CEO Brian Armstrong Announces 1,000 New U.S. Jobs

After attending the White House Crypto Summit, Coinbase CEO Brian Armstrong took to X (formerly Twitter) to reveal the company’s hiring plans. He stated that the regulatory landscape in the U.S. is improving, allowing the company to expand its workforce.

Armstrong credited the shift to President Trump’s leadership and the administration’s efforts to establish clear guidelines for crypto regulation. He emphasized that this new clarity is enabling businesses like Coinbase to strengthen their presence in the U.S. market.

Coinbase CEO added, 

“Historic day at the Whitehouse Digital Asset Summit. Thanks to Trump’s leadership, along with David Sacks, the U.S. now has a Strategic Bitcoin Reserve and emerging regulatory clarity. This is directly translating to economic growth in the U.S. For instance, Coinbase plans to hire about 1,000 employees in the U.S. this year as a result of this renewed growth.

During the White House crypto summit, Donald Trump announced plans to end Operation Chokepoint 2.0, signaling a shift toward a more supportive regulatory environment. Additionally, Trump emphasized the urgency of stablecoin legislation, aiming to establish clear regulatory guidelines before Congress adjourns for summer.

Regulatory Clarity Boosts Crypto Industry Growth

The White House Crypto Summit brought together government officials, industry leaders, and regulatory bodies to discuss the future of digital assets. The event marked a shift in the U.S. government’s stance toward the crypto industry, with an emphasis on fostering innovation.

One of the major developments discussed was the U.S. government’s decision to create a Strategic Bitcoin Reserve. Armstrong expressed his support for the initiative, stating that the U.S. government holding Bitcoin signals its recognition as a key financial asset.

A major factor influencing Coinbase CEO Brian Armstrong’s hiring announcement was the US SEC decision to drop its enforcement action against the company. With the case no longer proceeding, crypto businesses now look to Congress for regulatory clarity. Armstrong stated that this development allows Coinbase to focus on business expansion rather than ongoing legal battles.

Donald Trump Administration’s Crypto Policy

Donald Trump administration has positioned itself as an advocate for the crypto industry, with officials expressing their commitment to making the U.S. a leader in digital assets. Bo Hines, the executive director of the President’s Working Group on Digital Assets, reaffirmed the administration’s goal of establishing the U.S. as the global center for crypto innovation.

Hines stated that government agencies, including the Treasury and Commerce departments, are exploring ways to invest in Bitcoin without increasing the financial burden on taxpayers. Industry leaders, including Coinbase CEO Brian Armstrong, welcomed these policy changes.

Meanwhile, VanEck has shared budget-neutral strategies in which the U.S. government could expand its Bitcoin Reserve without taxpayer funding. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Rebounds Ahead of FOMC, Macro Heat Over?

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The crypto market concluded yet another week, primarily sparking investor optimism with recovering price trajectories. Bitcoin (BTC) price recovered from a $76K low to reach $84K right ahead of the U.S. FOMC next week. Whereas, major-league altcoins also mimicked price gains. The global cryptocurrency market cap again embarked upon a trajectory towards the $3 trillion mark as the week comes to an end.

Mentioned below are some of the top crypto market updates reported by CoinGape Media over the past week.

Crypto Market: Bitcoin Advancements This Week

The flagship crypto has witnessed significant developments over the past seven days, keeping investors optimistic despite price turbulence. Notably, global financial services firm Cantor Fitzgerald launched a $2 billion Bitcoin financing business, partnering with Anchorage Digital and Copper for secure institutional access.

On the other hand, Cathie Wood’s Ark Invest expanded its Bitcoin holdings, accumulating 997 BTC worth $80 million via Coinbase this week.

Also, despite the recent market turmoil, 95% of investors in the U.S. spot Bitcoin ETFs continue to hold onto their holdings. As a result, market watchers continue weighing optimism over long-term price prospects.

It’s also noteworthy that the Singapore Exchange (SGX) is planning to launch Bitcoin futures contracts shortly ahead.

Moreover, Deutsche Boerse’s post-trade unit Clearstream plans to launch Bitcoin & Ethereum custody services by the end of this year. Mentioned above are the top crypto market updates orbiting Bitcoin over the past week.

Are Prices Bracing For Macro Events?

Meanwhile, the broader market shows a recovery-like trend ahead of the U.S. FOMC next week. Set to occur on March 19, the monetary policymaking decision remains much eyed by investors globally.

Market-wide expectations of unchanged interest rates by the U.S. Fed prevail at the moment. Also, the latest U.S. CPI data indicated cooling inflation, offering some support to risk assets. In turn, traders and investors speculate whether a price recovery is possible after the turmoil caused by Donald Trump’s tariff saga.

Global markets, including crypto, took severe heat previously, although recent price actions signal that a recovery and bull cycle continuation might be on the horizon.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Solana Cofounder Advocates For Decisive Governance As SIMD-228 Proposal Fails

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Following the failed bid of a proposal to change network tokenomics, Solana cofounder Anatoly Yakovenko has reiterated the need for decisive governance. Yakovenko argues that failing fast will do more for Solana than a slew of proposal approvals.

Solana Governance Has To Prioritize Speed And Incisiveness

Solana co-founder Anatoly Yakovenko has moved on from the community’s rejection of the Solana Improvement Document (SIMD)-0228. Yakovenko noted that despite the failed proposal, the speed of governance proceedings for Solana left an impressive mark.

The SIMD-0228 sought to change Solana’s tokenomics by introducing a dynamic inflation model, moving away from the network’s fixed inflation schedule. While the proposal split the network over centralization fears and disadvantages to smaller validators, Yakovenko highlighted the silver lining in its rejection.

Learning from the proposal, the Solana cofounder disclosed that the network’s governance must be “fast and decisive.” For Yakovenko, the quick resolution of the proposal frees up resources for the network to explore a better approach.

“How fast the ecosystem iterates is a thousand times more important than making sure that every proposal passes,” said Yakovenko.

Over 74% of validators participated in the vote with Yakovenko declaring support for the proposal. Big ecosystem players including VanEck supported the proposal amid speculation that Solana price will spike following the approval.

Bulls Eye Upward Movement For SOL Price

Despite the rejection of the proposal, bulls are still clinging to hope that SOL can go on a parabolic rally. The network has faced significant downward pressure in recent weeks, complicated by Alameda’s SOL unstaking. A steep drop in Solana DEX volume darkens the cloud for the future of the asset’s price.

However, analysts are keeping their eyes on the potential repeat of a 2021 pattern that can send SOL price to $4,000. There is speculation that Solana is on course to surpass Ethereum’s market capitalization.

Optimist are hinging their prediction on on-chain metrics and the soaring number of projects building on the network. In the short term, traders have their eyes on SOL to $200 before the end of March despite a looming death cross.

 

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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21Shares To Liquidate Bitcoin and Ethereum Futures ETFs, Here’s All

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21Shares has announced that it is bringing down the curtain on its Bitcoin and Ethereum futures exchange-traded funds (ETFs). The issuer is eyeing March 28 as a tentative date for the liquidation of both ETFs amid a wave of new filings in the US.

21Shares Set To Liquidate Bitcoin and Ethereum ETFs

According to an announcement, crypto ETF issuer 21Shares has disclosed plans to ditch its Bitcoin and Ethereum futures ETFs. Per the announcement, the affected ETFs are the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF.

While the press release did not give clear reasons for the liquidations, it hinged its decision on a periodic review of its offerings. The statement cited a need to align existing product lineups with market dynamics and clients’ needs in a changing landscape.

However, pundits say the liquidations are a result of jarring ETF outflows in recent months.

Shareholders can sell their holdings up until March 27, a date touted as the last trading day for both ETFs. 21Shares plans to put the final nail in the coffin for both ETFs on March 28, liquidating all remaining assets.

“Shareholders who continue to hold shares of a Fund on the Fund’s Liquidation Date will receive a liquidating distribution with a value equal to their proportionate ownership interest in the Fund,” read the press release.

Increased ETF Activity In The Cryptoverse

Despite the wave of outflows, the ETF space is sizzling with frenetic activity. Buoyed by impressive returns, 21Shares slashed fees to 0.49% for its Bitcoin Ethereum Core ETPs.

Bitwise has rolled out its OWNB ETF to track companies holding Bitcoin on their balance sheets. Bitcoin ETF investors continue to put their faith in offerings in the face of price amid Rex Shares launching the first Bitcoin Corporate Bond Convertible ETF

Outside of Bitcoin, several issuers have filed for XRP, HBAR, DOGE, and AVAX ETFs with the US SEC. For Ethereum investors, CBOE has applied to the SEC to approve staking in Fidelity’s ETH ETF.

 

 

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Aliyu Pokima

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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