Coinbase music advertisement that attacks the UK makes everyone speak

Coinbase The business community after the American encryption company brought down a musical advertisement that criticized the United Kingdom, and was surrounded by economic problems and a continuous cost crisis.

Online societies from LinkedIn to Reddit wandering in the two -minute music advertisement entitled “Everything is fine”, which mocked the United Kingdom as a country with strikes, job losses and missile prices. Two people appeared in the advertisement that they “jumped the ship” and stripped the sunny navigation devices in Dubai.

Fintech, Crypto and Venture Capitalists – repeated investors in the world of encryption – praised the video and agreed on its basic hypothesis, but the advertisement also divided the opinion among British outside the industry.

“It was sad to see the United Kingdom – especially in London – is declining in recent decades.”

He pointed out that “the country’s bureaucracy is arrogant and suffocated, and does not continue to walk on personal freedoms. Policies are sick. The politicians are incompetent. There was a clear decrease in the quality of life there.”

Helen Yu, founder and CEO of Tijon Consulting Company and named as one of the 50 best women in technology, commented on LinkedIn that the announcement was mentioned, “When organizational obstacles formed how we dealt with messages in emerging technology.

Other reactions were more ridiculous, saying that the advertisement was purely self -return and drawing a misleading picture of the United Kingdom

The opening snapshot shows a leak from the ceiling before a man fired in words, “We have no problems, there is no reason for the complaint because here in the great ancient Britain, we love it only when it rains” before we enter into a musical montage of mice and streets full of garbage, chaotic road paths and mysterious prices at the supermarket.

One of the shots shows one of the shoppers who buy fish fingers at a price of 100 pounds ($ 132). Nota bene, a model package that includes six frozen fish fingers approximately 3 pounds of the National Supermarket Tesco.

“If everything is fine, do not change anything at all. But when the financial system of many people in the UK does not work, it must be updated,” Coinbase said, adding that the company’s task was “creating an open financial system for the world.”

Lucy Ghazmarian, founder and administrative partner at Taken Bay Capital, told CNBC on Monday that the discussion raised by the advertisement showed that “Crypto’s Waze With Weal Weal” showed.

“Everyone is playing to catch up with knees and now it is okay to go out and support encryption and take a critical look at the current financial infrastructure and say:” Where can we make changes, what do not we see? She said during an interview with “Squawk Box Euro”.

She said that the UK was behind many other countries trying to understand how to integrate cryptocurrencies and relevant infrastructure, such as Blockchain technology, commensurate with local financial systems.

“Each one judicial state needs to take a good look at this … they need changes now if they are not left behind. The entire global financial system is about to re -connect it,” she said.

“Oh yes. The solution is for inflation, a wage passenger, the infrastructure The topic “Askbrits” RedditWhile others described the advertisement as “childish” and “arrogant”.

Many have asked how to offer advertising to consumers as Coinbase, an already an investment platform, is already.

The satirical declaration is widely seen as severe criticism of the UK government. Critics of the administration led by workers, Prime Minister Kiir Starmer, have already accused of not doing enough to repair problems such as Fad growth, increased debts and shaken commercial investment.

Historically, encryption companies such as Coinbase historically had a grinding ax with various Western governments, which they accused of slowly embracing cryptocurrencies and modernizing policies and organization.

CNBC contacted the UK government and Coinbase for more comments.

The government’s critics rushed to jump on the declaration during the weekend, with Nigel Faraj, head of the UK Reform Party, commenting on X that “Coinbase says Britain is broken.”

Conservative and former UK Consultant George Osporen, who works at Coinbase’s advisory council, warned in an opinion article in The Financial Times on Monday that “Britain lost the first encryption wave. We cannot miss the second.”

There are conflicting opinions on the broader economic view of the United Kingdom – The annual average of local inflation increased to 3.6 % in JuneBut it is expected that it will extend throughout the year, according to England Bank, Which views interest rates from 4.25 % to 4 % at its next meeting in August.

The UK is expected to grow by 1.3 % in 2025 before slowing it to 1 % in 2026, according to the Organization for Economic Cooperation and Development, although the trade deal and the primary export export by 10 % with the United States have led to the calm of concerns that exceed another blow to the economy.

CEO Coinbase Brian Armstrong Notice Monday Monday The company’s announcement “sparked a big reaction” but claimed that the video did not target the government led by the workers, specifically.

“The need to modernize the system and improve society is not a political statement on either party in the United Kingdom (some tried to turn it into this). It is not specific to the United Kingdom (we have operated advertisements with similar topics in the United States), adding that it was” a statement on how the traditional financial system did not work for many people and how Crypto represents a way to improve this. “

He also claimed that the previous announcement of the company was published on YouTube last Thursday, “It was banned in the United Kingdom by television networks.” CNBC was not able to check this.

Coinbase has achieved a previous tour with the UK Advertising Agency, however, With 2021 AD it is misleading for consumers To fail to highlight adequate risks associated with these investments.

Armstrong said on Monday that the company welcomed “attacks and any other attempts to control this message, because it only helps it spread.”

Once again, in April, the UK President Koinbase CNBC told Coinbase CNBC Britain needed a “smart” organization or the risk of losing Earth to compete with Fintech and Crypto in the United States and Asia.

He and other encryption chiefs argued that the national organization requires very strict the approach to registering new companies, and that pension funds that manage trillion pounds outpace the risk, although Britain previously is a stronghold of innovation in the industry.

Coinbase The stocks fell last Thursday after The company’s revenues came in the second quarter of the analysts’ estimates. The profits showed that the gains in the revenue of subscription on the Cryptocurrency Exchang Stock Exchange failed to compensate for the weaker trading volumes during the quarter.

In the quarter ended on June 30, Coinbase’s net income increased to $ 1.43 billion, or $ 5.14 per share, from $ 36.13 million, or 14 cents per share, a year ago.

– Tanaya Macheel from CNBC and Ryan Brown contributed to the reports in this story.