Coinbase has taken a swipe at the United Kingdom’s financial system with a darkly satirical video, released as new data highlights a sharp rise in financial hardship across the country.
Titled “Everything is Fine,” the video adopts a cheerful, musical tone to contrast with bleak visuals of inflation, poverty, debt, and economic struggle—highlighting the disconnect between official narratives and everyday realities.
“We ain’t got no troubles. No reason to complain,” the video opens, as scenes of dilapidated homes and struggling individuals appear on screen. “The streets can’t get no cleaner. Nor the rat meat any leaner. No. Life is just as great,” the lyrics continue, as filthy streets roll by.
The video also mocks the UK’s rising cost of living, with a lyric that quips, “These fish fingers are a steal. Price is up a smidge — just 100 pounds a meal,” before sarcastically adding that things “could be worse.”
44% of UK adults are now considered financially vulnerable
Coinbase’s satirical video lands amid sobering new data showing that 20.3 million people in the UK—44% of all adults—are now financially vulnerable, according to a recent report by Fair4All Finance. This marks a 16% increase since 2022, driven by factors such as unstable incomes, lack of savings, poor health, and job losses.
The report highlights a sharp 59% rise in the number of average-income earners carrying high levels of debt, now totaling 3.5 million people. Financial strain is also hitting younger adults hard, with 1.9 million—up 45%—struggling under the weight of “buy now, pay later” schemes and insecure zero-hour contracts.
Food insecurity has deepened as well. Use of food banks has jumped from 11% to 15%, and half of financially vulnerable individuals say they can no longer afford a healthy diet. Many are turning to payday loans and short-term credit just to meet basic needs.
Two groups in particular are growing at an alarming rate: low-income families with no savings have increased by 5% to 3.8 million, while those in severe financial crisis—surviving entirely on credit—have surged 12% to 3.9 million.
UK’s Crypto Policy Faces Growing Criticism
The UK has faced criticism over its crypto policy. Last month, analysts from the Official Monetary and Financial Institutions Forum (OMFIF), an independent think tank, claimed that the UK has squandered its early lead in distributed ledger finance.
Once seen as a potential leader setting a post-Brexit gold standard for crypto regulation, the UK is now accused of vague and indefinite regulatory plans. The analysts pointed to “policy procrastination” as a major factor causing the country to lag behind both the European Union and the United States.
