UK Bans Coinbase’s ‘Everyty is fine’ advertisement: CEO says it exposes errors in finance

Coinbase CEO Brian Armstrong has responded to the return on the newest advertisement of the company for the British market.

He clarified that the video was not intended as a political explanation, but rather as a reflection of the deeper problems within the traditional financial system.

The controversial campaign

The exchange -based exchange recently posted An advertisement on July 31 via X and criticizes the financial system of the UK. With the title ‘Everything is Fine’, the video contains a cheerful number and texts that brag about the strong finances of the VK, while they make heavy scenes of inflation, poverty, debts and people struggling that have difficulty making ends up.

Intended as a satirical representation of the state of affairs, it starts with De Lijn: “We have no problems. No reason to complain”, while broken houses and poor people appear on the screen. The number continues: “The streets cannot get cleaner. Neither the rat meat slimmer. No. Life is just as great”, while dirty streets flash across the screen. The video also jokes about how expensive things have become in the UK.

On August 4, however, Armstrong went to X, assertion The advertisement was ‘banned in the UK by the TV networks’, which suggests that it was censored because it was wearing an element of truth.

“If you can’t say it, then there must be a core of truth.”

Some individuals and politicians have criticized the campaign and claim that it is a political statement intended to discredit the current government and make Great Britain a laugh.

The executive, however, explained that the calls of updates to the system and social improvements was not intended as a political statement about a party in the UK. He also clarified that the clip was not specific to the country, and said that the company had also led advertisements with similar themes in the US.

Crypto as a solution for broken systems

According to Armstrong, the point of the clip was to emphasize how the traditional financial system fails many people and how Crypto offers a way to tackle the problem. He added that some people in the UK still regard the activa class as ‘a kind of gambling product’, which he described as a very outdated perspective that ignores it real potential to improve the circumstances for everyone.

The executing power concluded by welcoming criticism and censorship efforts and said that they only help the message to spread further.

The controversial campaign comes at a time when 20.3 million people in the UK, which is 44% of all adults, live in financially unstable conditions. According to a recent report from Fair4all Finance, this represent An increase of 16% since 2022, driven by factors such as unstable income, limited savings, poor health and job losses.

In the meantime, experts say that the UK is lagging behind when creating clear rules for crypto. A report in July of independent think tank Omfif out That the country continues to make vague promises about future rules in what it described as a ‘policy delay’, warning that the EU and the US are now paramount.