Washington, DC – When he went out of the White House Crypto Summit on Friday, Coinbase CEO Brian Armstrong said his US exchange is planning to hire a thousand people because of the political progress that the industry seems to make at the beginning of President Donald Trump’s second period.

“It’s only what, 50 days or something similar, and it’s already created enough of a headwind that we feel more confident in investing in the US and growing our business here,” Armstrong told Coindesk. He said the employment would take place this year.

Coinbase specifically saw the American Securities and Exchange Commission completely abandon its pivotal enforcement action against the leading American crypto platform. The company had fought for the expensive legal dispute in federal courts on basic issues in regulatory jurisdiction over digital assets. This question is now in the hands of Congress instead of continuing as a judicial match and a move on Coinbase’s resources.

Armstrong was among dozens of people crowded into the white house’s state dining room for the first crypto summit with the White House, leading regulators and senior Republican members of Congress. The big news that came into the meeting was Trump’s executive order the night before it called for the creation of a Bitcoin (BTC) reserve that Armstrong approved.

“You can’t really have a better proprietor of this asset than the US government,” he said. “It’s about to become a core piece of the financial system, and I think it will be part of any diversified portfolio over time.”

Coinbase was a central player during the 2024 election and put tens of thousands of millions of dollars towards the cryptophocused political action committee Fairshake. He said Coinbase will continue to support Super PAC, which did “an incredible job” of increasing pro-crrypto candidates.

Bo Hines, the CEO of the President’s Digital Assets Working Group, Coindesk said that Friday’s summit represented Trump’s commitment to the industry.

“The president made a promise that he will turn this country the crypto capital of the planet, and we are well on our way to delivering this promise,” he said in an interview after the summit where Crypto Reserve Ideas played a significant role.

“We were just with 30 or so of the biggest fixtures in the room, and I think everyone was extremely satisfied,” he said.

In response to industry concerns that the Bitcoin reserve is not originally organized to include new investments, he pointed out that the secretaries of the US Treasury and Trade Departments have been ordered to weigh methods to buy Bitcoins without burdening taxpayers, and “both are happy to research ways to do so.”