Coinbase Tells Wall Street to Chill: Crypto Voters Are the Real Power Players!

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Coinbase does not fear competition from Wall Street, says exchange executiveFinance

What to know:

  • Coinbase says it is unconcerned by growing competition from traditional financial institutions, arguing that crypto’s grassroots community support cannot be replicated by Wall Street.
  • Stand With Crypto, which Coinbase calls the world’s largest crypto-advocacy group, claims 3.7 million members who have contacted lawmakers more than 2.5 million times, even as a recent CoinDesk survey found only 1% of U.S. voters rank crypto as their top concern.
  • Coinbase executives say the global Stand With Crypto events on Bitcoin Pizza Day underscore that “crypto voters” are a lasting political force and that governments must move quickly to adopt sensible, coordinated regulation.

Coinbase isn’t worried about growing competition from major Wall Street firms and other traditional financial companies, according to the crypto exchange’s European Policy Head, who spoke to CoinDesk on Friday.

Katie Harries stated that Coinbase isn’t concerned by the growing interest in cryptocurrency from banks and other financial institutions, explaining that a thriving crypto market benefits everyone. She used the phrase ‘a rising tide lifts all ships’ to illustrate this point.

The company reported a loss of $1.49 per share, significantly lower than the $0.27 profit analysts had predicted. Additionally, Coinbase announced it was reducing its workforce by 14% in early May.

Following the Stand With Crypto (SWC) events on Friday, Harries explained that the large turnout demonstrates a level of community support for cryptocurrency that traditional financial institutions simply can’t match.

According to Harries, millions globally are embracing cryptocurrency because they’re drawn to its core principles of open, accessible, and direct financial transactions. The people attending events in cities like London, Paris, New York, and Sao Paulo aren’t responding to instructions from banks or other financial companies; they’re motivated by their belief in the technology itself and their desire for government support.

‘Voters do care about crypto’

According to Harries, while cryptocurrency isn’t a primary concern for most American voters heading into the November elections, they *are* interested in digital assets. He noted that voters have reached out to their representatives millions of times to express their views on the topic.

According to Harries, voters *do* care about cryptocurrency, and data supports this claim. He was responding to comments from senators who suggested otherwise. The advocacy group ‘Stand With Crypto’ has a large base of over 3.7 million supporters in six different countries, and these members have collectively contacted their representatives over 2.5 million times.

The Coinbase executive believes crypto enthusiasts are now a consistent and influential part of the political process, not only in the US but globally. They suggest that politicians who haven’t paid attention to this group should start doing so.

A recent CoinDesk survey of 1,000 U.S. voters nationwide found that only 1% consider cryptocurrency to be their biggest concern. The survey included an equal number of Republicans and Democrats (around 41% each), and the results have a margin of error of plus or minus 3.53%.

‘Time for sensible regulation is now’

Harries urged global regulators to create practical rules for cryptocurrencies, emphasizing that now is the critical time to act. He noted that those attending Friday’s events are closely observing how these regulations develop.

Coinbase states that Stand With Crypto (SWC) is the biggest crypto advocacy group in the world, representing over 3.7 million people internationally.

Following Harries’ statement, SWC has hosted 500 events in six major markets – the United States, United Kingdom, Canada, Australia, Brazil, and the European Union – spanning four continents.

The events coincide with Bitcoin Pizza Day, said Coinbase in a statement shared with CoinDesk.

The event will include a livestream with discussions about the latest changes and policies affecting ecosystems around the world.

Coinbase highlighted that this event is happening at a key time for the crypto industry, as lawmakers in the U.S. Congress are currently considering new rules for the market.

According to Faryar Shirzad, Chief Policy Officer at Coinbase and a partner in the Stand With Crypto movement, the recent rally demonstrates widespread global support for cryptocurrency. People worldwide desire the ability to directly exchange value with each other, and they expect their governments to facilitate this. This desire for financial advancement isn’t limited to any single country.

Shirzad emphasized that establishing effective cryptocurrency regulations is a defining issue for our time, and it demands international cooperation, not just efforts within the United States.

Every year on May 22nd, the crypto community celebrates Bitcoin Pizza Day, remembering the very first time Bitcoin was used to buy something in the real world. Back in 2010, a man named Laszlo Hanyecz spent 10,000 Bitcoins on two pizzas. Today, those same Bitcoins would be worth over $770 million!

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2026-05-24 23:11