Coinbase CEO Brian Armstrong has condemned the UK’s decision to ban the platform’s latest ad, calling it an attempt to silence criticism of a broken financial system.
Coinbase, a leading U.S.-based crypto exchange, has come under renewed scrutiny in the UK following the removal of its latest TV advertisement by local broadcasters. The ad, titled “Everything is Fine”, aired on July 31, 2025, and used satire to address economic frustrations across the country.
The UK-focused campaign spotlighted a series of mounting economic concerns. These included the soaring cost of living, growing dissatisfaction with the Labour-led government, and the weakening financial infrastructure.
It also drew attention to a rising trend of wealthy individuals moving abroad, underscoring broader disillusionment with the country’s economic direction. In this context, the ad framed crypto, particularly Bitcoin, as a practical alternative for those seeking greater financial independence and stability.
UK broadcasters, however, saw the messaging as too political and potentially misleading. The ad was promptly banned, sparking reactions from the crypto industry.
Regulators Cite Misleading Messaging
Broadcasting authorities argued that the campaign’s tone could mislead viewers by presenting crypto as a guaranteed solution. They also noted the ad painted a bleak picture of the UK government, despite not mentioning any political party directly.
This isn’t Coinbase’s first brush with UK regulators. In 2021, the Advertising Standards Authority (ASA) banned a Coinbase wallet promotion over claims of insufficient clarity. The new ban continues that trend, as watchdogs attempt to balance innovation with consumer protection.
CEO Armstrong Defends Message
Following the ad ban, Coinbase CEO Brian Armstrong took to the social platform X to defend the campaign. He said the ad captured concerns that many people already feel about today’s financial systems. Armstrong insisted the message wasn’t political or targeted at any party.
He also clarified that similar ads had been aired in the US, underscoring the campaign’s broader relevance. “We ran ads with similar themes in the US,” he noted, calling it a global critique of outdated financial systems.
Armstrong went on to challenge lingering UK perceptions that label crypto as gambling. He argued that such views ignore crypto’s potential to reform and modernize finance. Censorship, he added, only draws more attention to the need for change.
Mixed Reactions From the Public
Public opinion remains divided. Supporters within the crypto space called the ad bold and truthful. Detractors accused Coinbase of exploiting national struggles for commercial gain.
Meanwhile, the ad dropped at a crucial time, just as the UK Financial Conduct Authority (FCA) lifted its ban on retail investment in crypto exchange-traded notes (ETNs).
The timing, while coincidental, may have worked in Coinbase’s favour, as it drew extra attention to crypto’s growing legitimacy.
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