The Coinbase Music Advertising that attacks the UK makes everyone talk

Base Put the business community after the American cryo-firm has abandoned music advertising, which strengthened the UK as besieged by economic problems and a constant crisis of life.

The online community from LinkedIn to Reddit was buzzing over a two-minute mini-musical called “All Ok”, which satirized the UK as a country that crashed with bruises, losses and missile prices. Two people who participated in the ad say they are “jumping” and go on Sunning Climes in Dubai.

Fintech, Crypto and Venture Capitalists – Frequent Investors in the Crypto -Svet – praised the video and agreed with its main prerequisite, but the announcement also divided the opinion among the British around the industry.

“Absolute whim with Coinbase,” venture capitalist Michael Jackson commented on LinkedIn, adding that “it was sad to see how the UK – especially London in recent decades.”

“The country’s bureaucracy is powerful and it suppresses, and it continues to go back to personal freedoms. The politician is poorly thinking. Politics are incompetent. There has been a distinctive decline in quality,” he said.

Helen Yu, founder and CEO of Tigon Advisory Corp and named one of the best 50 women in the technique, commented LinkedIn that the announcement reminded her “when the normative obstacles formed as we approached the message in new technologies. Sometimes the most creative ideas find their home where the rules are not so tough.”

Other reactions were more cynical by saying

The introductory shot shows how the water leaks through the ceiling before the man fun launches the lyrics: “We have no trouble, there is no reason to complain, because here, in the UK, we just love it when it rains” before moving to the musical installation of rats and streets, conquered routes.

One picture shows the buyer by buying fish fingers at 100 pounds ($ 132). Nota Bene, a typical pack of six frozen fish fingers costs up to 3 pounds from National Supermarket Tesco.

Coinbase said the announcement: “If everything is fine, then nothing change. But if the financial system does not work for so many people in the UK, it should be updated,” adding that the firm’s mission must “create an open financial system for the world.”

Lucy Gazmarian, the founder and head of the partner at Token Bay Capital, said on Monday CNBC that the discussion caused by the announcement showed that “Crypto really has its moment.”

“Everyone is playing in the contract, and now it is normal to go out and support the cry and look at the existing financial infrastructure and say,” Where can we make changes, what do we see? “So, this is a very desirable discussion that may have happened a few years ago,” she said during an interview with Squawk Box Europe.

She said the UK is behind many other countries trying to understand how to include cryptocurrencies and related infrastructure, such as blockchain technology, fit into domestic financial systems.

“Each jurisdiction should look very good at this … They need to make changes now if they do not remain behind. The whole world financial system will be redone soon,” she said.

“Ah, yes. Inflation decision, stagnation of wages, destroyed infrastructure and launching a well -being … cryptocurrency,” – wrote one user Flood “Askbrits” RedditWhile others described the announcement as “infantile” and “brazen”.

Many call as an advertisement showed consumers that actually does Coinbase, the investment platform.

Satirical advertising is widely seen as a fierce criticism of the UK government. Critics of the Administration under the guidance of work have previously been accused by Prime Minister Keira St. Imperfect growth, debt growth and shaky investment in business.

Crypto -Firms, such as Coinbase, historically had an ax to grind with the different Western governments they have accused of slowly accepting cryptocurrencies and upgrading politics and regulation.

CNBC contacted the UK government and Coinbase for additional comments.

Government critics quickly jumped on the announcement last weekend, and Nigel Parazha, the head of the UK reform, commenting on X that “even Kainbas says Britain is broken.”

Conservative and former UK Chancellor George Osborne, who is in the Coinbase Advisory Council, warned in the Financial Times on Monday that “Britain missed the first crypt.” We can’t miss the second. “

There are conflicting opinions about a broader economic worldview for the UK – Annual domestic inflation rate rose to 3.6% in JuneBut as expected At the next meeting in August there is a decrease in interest rates from 4.25% to 4%.

The UK is expected to grow by 1.3% in 2025 before slowing down to 1% in 2026, the OECD reports, although the trade transaction and the basic 10% export tariff from the US reassured fears of further economic impact.

CEO Coinbase Brian Armstrong marked on X on Monday The company “caused a rather reaction”, but claimed that the video was not focused on the government managed.

“The need to update the system and improve the society is not a political statement in any party in the UK (some tried to turn it into it). And this is not typical of the UK (we were advertising with similar topics in the US),” adding that “a statement about how the traditional financial system does not work for many people.”

It also claimed that a pre -advertising firm located on YouTube last Thursday, “It was banned in the UK by television networks.” CNBC could not check it.

However, Coinbase did previous work at the UK Agency for Advertising Standards, however With 2021 advertising, presumably misleading consumers And for not having the proper discharge of the risks related to such investments.

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

Back in April boss of UK Coinbase Keith Gross told CNBC what about that Britain needed “reasonable” adjustment or risked losing a position for Fintech and Crypto Hubs competition in the US and Asia.

He and other Crypto leaders claim that the National Regulator is taking a too strict approach to registration of new firms, and that pension funds that manage trillion pounds are not at risk, despite the fact that Britain has previously promised to become a bastion innovation in the field.

Base Shares fell last Thursday after The company’s income in the second quarter was ashamed of analysts’ assessment. Cryptocurrencies’ revenue income was unable to compensate for weaker volumes for the quarter, showed profits.

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

– Tanaya Macheel and Ryan Brown CNBC and Ryan Brown reported in the story.