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.
NFT News:- NFT market has seen significant downturn in Q1 2025. The total sales volume has dropped by 63% to approximately $1.5 billion.
As the NFT sales volumes keep sliding, a new partnership in the space is trying to bring something new for the users. The layer-2 blockchain, Mint, which connects global consumers with NFTs, has integrated data layer Noves.
For NFT builders, this means that NFT transactions would become human readable directly on-chain.
Noves is a leading blockchain data-layer provider which will now be integrated with Mint Blockchain—an Ethereum Layer-2 network.
The announcement was made via Noves’s official X account. The Noves-Mint partnership aims to elevate user clarity and safety by translating raw transaction data into plain English before execution.
What are the benefits of the Partnership for NFT Users
At the heart of this integration are three core features:
1. Human-readable NFT transactions. This will be done by converting opaque hexadecimal call data into succinct, understandable descriptions in plain english.
2. Pre-sign safety simulations: It will enable users to preview potential outcomes – including multicall and ERC-4337 wallet interactions -before committing gas.
3. Real-time on-chain pricing: This will provide up-to-the-second NFT valuations within transaction flows to prevent slippage and mispricing.
Instant clarity
Translate API turns raw calls into plain-English actions like “Minted [BC721 eNFT]” or “Claimed royalty,” so dashboards, wallets & explorers show meaning, not hex.
Technically, Noves’s Translate API serves as the translation engine. They parse blockchain events, function calls, and metadata URIs to generate human-friendly messages.
Mint Blockchain launched its mainnet in May 2024 and hosts over 100 dApps with 6 million+ wallets. It will embed these Noves tools natively into its SDKs and JSON-RPC endpoints.
Early adopters among Mint builders include emerging NFT marketplaces and DeFi dashboards. Many of these report that human-readable previews reduce transaction support inquiries by over 40% during internal testing.
First in the Market!
Wallets and block explorers have long offered post-hoc decoding. But this marks one of the first on-chain, protocol-level implementations of read-before-you-send clarity. Noves and Mint are embedding translation logic directly into transaction pipelines.
This will avoid reliance on third-party services—reducing attack surfaces and central points of failure.
With the declining market, this can come as a crucial step toward broader NFT adoption.
By demystifying transaction payloads, users can gain confidence in executing complex operations. This will be especially for those involving bundled calls, custom contracts, or layered DeFi protocols.
Declining NFT Market
Further, improved transparency is expected to boost Mint’s on-chain activity. It may also set a template for other Layer-2 networks seeking to differentiate via UX innovations.
The Noves–Mint partnership can also help in reducing user errors, curb phishing attacks, and foster trust in decentralized applications.
Thus, ass on-chain ecosystems grow ever more complex, bringing human readability to transaction flows can serve as a boost for the NFT market.
The final week of July has seen a noticeable pullback across the crypto market, with Bitcoin (BTC) trading within a tight consolidation range. This muted performance has dampened broader market sentiment, dragging many altcoins lower.
Despite the cautious tone, retail interest in Nigeria—one of Africa’s most active crypto markets—has remained resilient. On-chain and social data reveal that Bonk (BONK), Sui (SUI), and Pepe (PEPE) have emerged as the top three trending altcoins in the country during the final week of July.
BONK
According to Ayotunde Alabi, CEO of Luno Nigeria, Solana-based meme coin BONK is among the top trending assets in Nigeria this week. The recent resurgence in the demand for meme assets has pushed BONK’s value up by over 150% in the past 30 days.
Alabi told BeInCrypto that BONK’s surge in popularity may be tied to the wider altcoin rally. Still, its appeal among Nigerian investors is also driven by its affordability and perceived upside. In a market where many top coins appear overbought, low-cost tokens like BONK offer speculative traders a chance to enter early and ride potential momentum.
“Interest could be based on the broader altcoin momentum, but investors could also be drawn to the low price entry point and potential for long-term growth,” Alabi pointed out.
The meme coin trades at $0.00003 at press time, up 7% in the past 24 hours. BONK could extend its rally toward $0.000038 if buying pressure is sustained. A successful breach of that resistance could propel the altcoin to reclaim its year-to-date high of $0.000040.
For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
On the other hand, if demand weakens, BONK’s price could dip to $0.000034.
SUI
This week, layer-1 (L1) coin SUI is another altcoin trending among Nigerian traders. According to Alabi, SUI’s resilience and rising visibility in Nigeria can be linked to its expanding ecosystem and increasing institutional validation.
With big names like Grayscale and VanEck backing the token through new investment vehicles, the CEO mentioned that Nigerian investors are paying closer attention to its long-term potential.
He added that the increase in SUI’s total value locked (TVL) over the past month signals a growing adoption and capital confidence in the network’s infrastructure. According to DefiLlama, this currently stands at $2.148 billion, rising by 25% since the beginning of July.
This uptick in TVL reflects increased market-wide participation and suggests that more users and developers are actively engaging with the Sui ecosystem.
SUI currently trades for $3.99. If network activity remains high, demand for the SUI coin will increase, pushing its price toward $4.09. A break above this level could trigger a move to $4.29.
However, if profit-taking continues, the coin’s value could dip to $3.68.
PEPE
Despite a slight pullback over the past week, PEPE also remains on Nigerian traders’ radar. According to Alabi, the coin has benefited from the broader memecoin revival, with gains of around 18% over the last 30 days.
He explained that the strong performance of more established tokens like Dogecoin (DOGE)—which gained roughly 30% in the same period—has helped to renew market confidence in smaller memecoins like PEPE.
PEPE trades at $0.000012 at press time, noting a 5% uptick in the past 24 hours. If buy-side pressure strengthens, the meme coin’s rally could reach $0.000014.
After numerous Congressional debates and revisions, the GENIUS Act is now on the verge of becoming law. The bill, which aims to regulate the stablecoin industry across the United States, is widely expected to be signed.
According to representatives from Digital Chamber, a D.C.-based advocacy group for the blockchain industry, the bill approval will likely come before the end of June. Such a move would increase institutional adoption and strengthen the US dollar’s dominance globally.
When Will the GENIUS Act Pass?
Poised for passage, the GENIUS Act is a landmark bill that would federally regulate the US stablecoin industry.
Despite recent disagreements between Republican and Democratic Senators, the bill passed a key procedural vote. Kristopher Klaich, Policy Director at The Digital Chamber, strongly believes in its impending approval.
“I feel pretty strongly that there won’t be more hiccups… I think the industry has been such a strong player in politics for the last couple of years and supporting campaigns… there’s a high cost for members that may be the stick in the mud,” he told BeInCrypto.
According to Taylor Barr, the advocacy group’s Government Affairs and PAC Manager, 53 amendments have been made.
“Majority leader Thune is committed to having what he’s calling a fully open amendment process, which means every single amendment has the full right to go through a debate vote and to have full closure on each amendment. So at the end of the day, that could be a three-week-long process,” Barr told BeInCrypto.
However, Barr clarified that a fully open process with 53 individual debates is unlikely. He expects these amendments to be divided into three or four groups, resulting in a more efficient and abbreviated open amendment process, given that many are duplicative.
If Barr’s estimations are correct, the bill will pass before the end of this month. When it does, the significance will be substantial for the greater crypto industry.
Understanding Stablecoin Impact
Stablecoins are arguably the most globally adopted digital asset. Unlike traditional cryptocurrencies like Bitcoin or altcoins, they provide worldwide access to a stable medium of exchange.
According to a January report by crypto exchange CEX.io, the total stablecoin transaction volume reached 27.6 trillion in 2024, exceeding Visa’s total payment volume and Mastercard’s by 7.7%.
Tether and Circle dominate the market at $151 billion and $59 billion, respectively. Together, they have an 89% market share, according to rwa.xyz.
Tether and Circle dominate stablecoin market share. Source: rwa.xyz.
Their heavyweight presence in global economies makes a bill like the GENIUS Act all the more significant. This is especially true in the context of a debilitated US dollar.
The Dollar’s Waning Influence
The US dollar started the year exceptionally weakly. Two days ago, the US Dollar Index (DXY)—a key measure heavily influenced by the euro—fell nearly 9% to just under 99. The results marked its weakest calendar year opening since at least the mid-1980s.
This situation and broader de-dollarization efforts by major US debt holders like China and Japan intensify concerns about the dollar’s future.
US Dollar Index Continues to Decline. Source: Yahoo Finance
Data from Ark Invest illustrates this shift. In 2011, these three nations held 23% of the $10.1 trillion in outstanding US Treasury debt.
By November 2024, despite the total outstanding US Treasury debt rising to $36 trillion, their combined holdings had dropped significantly to approximately 6%.
This substantial decrease in holdings by key foreign creditors highlights growing worries about the dollar’s long-term stability and the United States’ ability to refinance its massive debt.
“Dollars are the world reserve currency. Demand for dollars has waned at the sovereign level. Over recent years, the largest purchasers of treasuries are cutting their holdings of treasuries. That is not a good situation for the United States as they try to refinance,” Klaich said.
Klaich added that legislation like the GENIUS Act is crucial:
“In my mind, there’s very little more important than the stablecoin bill being passed from an macroeconomic perspective… If demand for dollars diminishes at the sovereign level, structurally speaking, if that is or can be replaced by demand at a retail individual level, that is a huge boon to the US government.”
The data behind Klaich’s statements seems to back his analysis.
What Role Will Stablecoins Play in Future US Debt Demand?
The stablecoin market is poised for significant growth. According to an April report from Citigroup, the total stablecoin supply could reach $1.6 trillion by 2030. This growth could create a demand for US debt comparable to the historical levels supported by sovereign nations.
Stablecoin issuers could be one of the largest holders of US treasuries by 2030. Source: Citigroup.
The GENIUS Act could facilitate this transition.
“Hopefully, when it passes, demand for stablecoins will explode because there are many companies and banks that are planning to introduce stablecoins that will provide the rails for them to operate at a consumer and business level. So the efficiencies companies and individuals realize will help push that,” Klaich explained.
“It allows anybody in the world to access US dollars. What that affords the US from an economic warfare standpoint is significant,” Klaich added.
With persistent inflation risks, the Federal Reserve is unlikely to buy back significant amounts of US treasuries. Therefore, encouraging stablecoin use allows this market to effectively replace currently ineffective financial mechanisms.
Amendments to the Bill
If the GENIUS Act is implemented correctly, the stablecoin industry could become a valuable financial tool for the US government to ensure long-term support for the US dollar.
The bill underwent a difficult revision process. According to Barr, the process was tedious and politically challenging.
“If you look at all of the progress we’ve made, we’ve worked on this for three Congresses now. We’ve worked on this [through] multiple different leaderships– minority, majority split. So we’re so close. We’ve done all this progress so we can see the finish line. We’re going to get there,” he said.
However, multiple revisions were a prerequisite for its passage to ensure the bill responsibly addressed consumer protection, national security, and market integrity issues.
Klaich noted that these critical concerns were addressed fairly in the legislative process. He emphasized that recent versions of the bill effectively integrated these revisions.
“None of those issues are existential, and they’ve been negotiated into the latest version of the bill that’s being considered right now. I think the changes that have been made are reasonable and acceptable,” he said.
The future will reveal if the bill passes and achieves its desired effect in helping the US overcome its complicated economic reality.
