Coinbase Ad Controversy: Musical Advertisement Depicts The UK With Giant Rats, Leaky Roofs And £100 Fish Fingers

Coinbase's two‑minute musical advert Everything Is Fine has been barred from UK television after regulators ruled it breached broadcast advertising rules.

The satirical campaign paired cheerful lyrics with stark imagery of Britain's cost‑of‑living crisis, leading officials to conclude it made unsubstantiated claims about cryptocurrency as a remedy for economic hardship.

A Satirical Hit That Struck a Nerve

Released on 31 July 2025, the video mixes jaunty music with visuals of rats in bins, leaking roofs, £100 fish fingers and wealthy families moving to Dubai. Lyrics include the line 'We ain't got no troubles... life is just as great', a deliberate contrast to the imagery on screen.

The ad quickly attracted millions of online views. Coinbase described it as a call to modernise financial infrastructure, stating, 'When the financial system isn't working... it needs to be updated.'

Clearcast Blocks the Broadcast

Clearcast, the body responsible for approving television commercials in the UK, rejected the campaign. A spokesperson told Brussels Signal the advert broke the Broadcast Committee of Advertising Practice (BCAP) Code by implying that cryptocurrency could address systemic economic problems, without evidence or mandatory warnings about volatility and risk.

Coinbase chief executive Brian Armstrong criticised the ruling on X, formerly Twitter, saying the message resonated because 'it held truth'. The company insists the work was satire aimed at sparking debate about the future of finance.

Economic Backdrop

The timing of the campaign tapped into wider public discontent. A 2024 Fair4All Finance report found that 44 per cent of UK adults, about 20.3 million people, were financially vulnerable, up 16 per cent since 2022.

Household debt and food bank reliance have both risen over the past two years, while wages have stagnated and living costs have stayed high, Finway reported. Coinbase positioned these pressures as evidence of 'broken' financial infrastructure, suggesting digital assets as one potential alternative.

Crypto Advertising Disputes

This is not Coinbase's first clash with UK regulators. In 2021, the Advertising Standards Authority (ASA) banned several of its ads, along with those of other crypto firms, for overstating returns and failing to highlight investment risks.

According to the Financial Times, the ASA has investigated 1,702 cryptocurrency adverts since late 2023. Just over half were removed or amended, while the remainder were deemed compliant or remain under review.

The case comes as UK regulators face criticism for lagging behind the EU's Markets in Crypto‑Assets (MiCA) framework, which sets unified rules for crypto advertising and investor protection. Without a similar system, experts warn, the UK risks both weaker consumer safeguards and a diminished role in fintech.

Online Popularity, Offline Limits

While Coinbase's Everything Is Fine remains widely shared on social media, the Clearcast decision means it will not be broadcast on UK television. The incident underlines the growing tension between the provocative style favoured by some cryptocurrency marketing campaigns and the stricter standards applied to broadcast media.

At a time when public finances are under strain and regulators remain cautious, marketing that challenges the status quo may find an audience online but still fail to clear the bar for television approval in the UK.