Coinbase's Mocks UK Financial System With New Video

Coinbase has released a new video on their social media, mocking the economic frenzy in the United Kingdom.

Titled "Everything is Fine," the video employs a satirical tone by mixing lyrics that seems to brag about the country's economic prowess while showing the grim scenes of inflation, poverty, debt and financial struggle.

The video seems to mock the discrepancy between what people are told and what is actually happening in the United Kingdom.

In the video, everyday folks were singing lyrics like "Everything is fine; we ain't got trouble; no reason to complain," while the scenes were showing deteriorating neighborhoods, inflation-weary consumers, and dirty streets flashing across the screen.

The video highlighted the issue of soaring prices, with lines that say "These fish fingers are a steal. The price is up to a smidge, just 100 pounds a meal," before joking that things "could be worse."

The video’s release coincides with new data from Fair4All Finance revealing that 44% of UK adults—representing over 20 million people—are currently financially vulnerable, a figure that has surged 16% since 2022.

Driving this vulnerability are factors such as job instability, dwindling savings, rising debt, and poor health.

The report also revealed that 3.5 million people with average incomes are also carrying higher debt loads, a 59% higher compared to previous years.

The report also showed that 1.9 million younger adults, are also struggling financially, having to depend on "buy now, pay later" and stuck in zero-hour contracts.

Food insecurity is also on the rise, with 15% of the population turning to food banks for their daily meals. Half of those in financially vulnerable situations also say they can't afford a healthy diet, with many relying on payday loans just to make ends meet.

There was also a rapid growth in the number of low-income families and those in crisis state, with an increase of 5% and 12% individually.

UK's Crypto Paralysis

Coinbase’s satirical take lands as the UK comes under criticism for its faltering crypto regulation.

Experts at the Official Monetary and Financial Institutions Forum (OMFIF) recently noted that the UK has lost its momentum in crypto leadership, citing ongoing regulatory delays and a lack of clear direction—putting the country behind both the European Union and the US in the digital finance race.

This bold campaign by Coinbase not only challenges perceptions of economic stability in the UK but also underscores the urgent need for both financial system reform and a decisive regulatory stance on digital assets.