As the world of cryptocurrency continues to expand, leading exchange, Coinbase, is taking a pro-active approach to promoting the future of crypto through a new television campaign. The series of advertisements is set to hit the screens this week amid Coinbase’s ongoing battle with US regulators.
In the black and white, almost two-minute long video, CEO Brian Armstrong emphasizes the benefits of crypto while addressing its often “naive view.” Comparing the growth and adoption of cryptocurrencies to the early days of the internet, Armstrong asserts that, “regardless of what you think about it, cryptocurrency is not going anywhere.”
While critics say that cryptocurrencies are merely speculative assets, Armstrong believes they are missing the bigger picture. He highlights the fact that many countries are embracing the technology and warns of potential national security concerns if the United States continues to lag. Drawing comparisons to 5G and semiconductors, Armstrong expresses his fear of looking back in five to ten years and realizing the US must invest in this technology for national security reasons.
Coinbase plans to air four ads featuring Armstrong, which will be featured on popular Sunday shows, releasing a new chapter every weekend. This promotional push comes as the exchange is embroiled in a fight with the US Securities and Exchange Commission (SEC).
Coinbase received a Wells notice in March, indicating that the SEC is prepared to recommend formal charges against the company. Despite repeated requests for guidance from the SEC regarding how securities laws might apply to the platform and the industry, Coinbase’s Chief Legal Officer Paul Grewal claims they have been met with silence.
Meanwhile, SEC Chairman Gary Gensler has called on exchanges to register while voicing his concerns about conflicts of interest in the industry. While lawmakers in the nation’s capital work on bills to regulate crypto, the outcome of these efforts remains uncertain.
As the debate over cryptocurrency’s future and the role of regulators continues, Coinbase’s TV campaign aims to raise awareness and promote a wider understanding of the potential and importance of this flourishing industry. With the spotlight on the growing embrace of digital currencies globally, the pressure is on the US to keep pace with the developments and avoid falling behind in the race toward a digital financial future.
Source: Cryptonews
