Coinbase’s musical ad attacking the UK gets everyone talking

Coin The American crypto firm misleaded the business world after leaving a music advertisement that made England as a raven of England as he besieged with economic problems and an ongoing cost of life.

Online communities from LinkedIn to Reddit are buzzing in a two -minute mini -music commercial entitled “Everything is”, which sells England as a country with strikes, business losses and rocket prices. The two people in the advertisement say that they are “jumping vessels” and divided into more sunny climates in Dubai.

Fintech, crypto and risk capitalists – frequent investors in the crypto world – praised the video and agreed with the underlying pioneer, but the advertising divided the view among the British outside the industry.

“A Banger from Coinbase,” he commented to LinkedIn, “Britain – especially London – the fall of London – in recent years.”

“The country’s bureaucracy is challenging and drowning and continues to return to personal freedoms. Policies are badly thought. Politicians are insufficient. There was a noticeable decline in quality of life.”

Helen Yu, the founder and CEO of Tigon Advisory Corp, is one of the top 50 women of technology, LinkedIn, to him how the advertisement is approaching the “regulatory obstacles in the emerging technology.

The other reactions were more sarcastic, saying that the ad was completely self -promoting and that England has drawn a misleading picture.

The opening shot shows water leaking from a ceiling before a man cheerfully starts lyrics, “We have no reason to complain because we just like to rain in the Great Old British, Supermarket, the rats and trash, the streets and the chaotic roads in the garotic roads.”

A shot shows a shopping person who makes a shopping shopping that buys fish fingers priced as £ 100 ($ 132). Note Bene is a typical package of six frozen fish fingers, cost -by -£ 3 from the national supermarket Tesco.

Coinbase said: “If everything is okay, then don’t change anything. But when the financial system doesn’t work for many people in the UK, it needs to be updated,” the company’s mission, “the company’s mission,” Creating an open financial system for the world, “he said.

Token Bay Capital’s founder and executive partner Lucy Gazmararanian told the CNBC on Monday that the debate provoked by the advertising showed that “Crypto is really a moment”.

“Everyone is playing capture and now we go out and support the crypto and look at the current financial infrastructure in a critical way and ‘Where do we make changes, what do we not see?’ So this is a very nice debate that should take place a few years ago, “he said,” Squawk Box Europe “interview.

He said that Britain is behind many other countries, and that the relevant infrastructure, such as crypto currencies and blockchain technology, is trying to understand how to comply with domestic financial systems.

“Each judicial authority needs to take good care of it … If they are not left behind, they need to make changes now. All the global financial system is about to hug again.” He said.

“Oh yes. The solution of inflation, stagnation of wages, infrastructure and fading welfare system … Crypto currency,” he wrote. Reddit’s “Askbrits” DusOthers described the advertisement as “infantile” and “arrogant”.

Many of them questioned how Coinbase, a crypto investment platform of advertising, is actually.

Specialized advertisement is seen as a harsh criticism of the British government. Prime Minister Keir Starmer, led by Labour, accused Prime Minister Keir Starmer of not doing enough to solve problems such as inanimate growth, increasing debt and shaky business investment.

There were historically anchers of crypto firms such as Coinbase to grind with various Western governments, which they accused of being slow to embrace crypto currencies and modernize policies and regulations.

CNBC contacted the UK government and Coinbase for more comments.

The government’s critics quickly jumped the advertisement on the weekend, Nigel Farage, the President of the Reform British Party, said about X, “Even Coinbase says that England has broken.”

George Osborne, the Conservative and former England Chancellor at the Coinbase Advisory Council, said, “Britain missed the first crypto wave of England. We can’t miss the latter on Monday.”

There are contradictory views on the wider economic appearance for the UK – the annual internal inflation rate rose to 3.6% in June, but in August, according to the Bank of England, which was seen to reduce interest rates from 4.25% to 4%.

According to OECD, Britain is expected to grow 1.3% in 2025 before slowing down to 1% in 2026, but a trade agreement and a 10% export tariff with the US were afraid of more strokes into the economy.

Coinbase CEO Brian Armstrong Was noted on Monday x He claimed that the company’s advertising “reacts quite”, but the video did not target the government -led government.

“The need for updating the system and improving society is not a political expression on both sides in the UK (some have tried to transform it). And it is not unique to the UK (we have published ads with similar themes in the US),” he added, “an explanation of how the traditional financial system does not work for many people and how the crypan represents a way to improve it.”

He also claimed that the company’s previous advertisement was published on Youtube last Thursday. “Banned by TV networks in England.” CNBC could not confirm this.

Coinbase met with the UK’s advertising standards agency before, but With a 2021 advertisement that is thought to be misleading for consumers And to emphasize the risks associated with such investments sufficiently.

On Monday, Armstrong said he welcomed the company’s “attacks and censorship attempts for helping to spread this message only”.

In April, Coinbase’s British boss Keith Grose CNBC said that he needed a “smart” arrangement, which is competing with England and Crypto centers in Asia and Crypto.

O and other crypto presidents argued that the national regulator has contributed greatly to the recording of new companies, and although the UK promised to be a castle of innovation in the sector, the retirement funds that manage trillions of pounds avoid a lot of risk.

Coinbase shares fell last Thursday after the company’s second quarter income came from the analysts’ predictions of the estimates. The gains in the subscription income of the crypto currency stock exchange could not balance the weaker trading volumes for the quarter.

Coinbase’s net income in the quarter ended on June 30th rose from $ 36.13 million a year ago or $ 1.43 billion per share or $ 5.14 per share.

– From CNBC Tanaya Macheel and Ryan Browne reported to this story.