Coinbase: Moving America Forward or Moving out of US?

In an effort to promote the importance of cryptocurrency and its potential to revolutionize the global financial system, Coinbase, the leading crypto exchange, launched a national campaign, “Crypto: Moving America Forward.” 

The campaign kick-off involves a series of four different advertisements, each featuring Brian Armstrong, to be aired on popular Sunday shows with a new chapter premiering every weekend. The ads aim to articulate the significance of crypto technology and elucidate what’s at stake for the United States.

Coinbase had previously commissioned a national survey from Morning Consult, which indicated that one in five Americans owns crypto and that 80% of Americans are inclined towards updating the financial system.

In light of these findings, Coinbase announced “Go Broad, Go Deep,” a global initiative to expand its presence in significant financial markets seeking to become crypto hubs. Locations include the UK, Canada, Dubai, Brazil, and Singapore. As part of this initiative, Coinbase has also inaugurated a global advisory council and launched a new international exchange in Bermuda.

The campaign “Crypto: Moving America Forward,” also seeks to highlight that US global economic leadership and national security might be jeopardized if the US cedes its role in constructing technology that will be central to the world’s financial infrastructure.

In addition to the ad series, the campaign comprises “The History of Money Initiative,” an educational program charting the evolution of currency, and “Stand With Crypto Day,” scheduled for July 19, where crypto-enthusiasts will gather in Washington, D.C., advocating for crypto-friendly policies.

Coinbase will also collaborate with the Financial Times to host “The State of Crypto Summit” in New York City on June 22, inviting influential stakeholders from the traditional financial sector to discuss crypto’s evolving role as financial technology.

However, amid these initiatives, last month, Armstrong warned that Coinbase might consider moving its headquarters outside the US, citing dissatisfaction with the country’s approach to crypto regulation. This move underscores the tension between crypto exchanges and regulatory bodies, a situation that demands urgent attention.

Armstrong’s initiative underscores the importance of a national conversation on the role of cryptocurrency in reshaping the global financial landscape. With one in five Americans already owning crypto, it’s clear that the future is here.