Coinbase has targeted the UK’s financial system in a dark and satirical video, which occurs while data reveal a strong increase in financial difficulties across the country.
Entitled “Everything is good”, the video uses a musical tone and words to boast of the strong finance of the United Kingdom while showing dark scenes of inflation, poverty, debt and financial struggle – an index of the gap between what people are said and what they face.
“We have no problem. No reason to complain,” the video begins, while damaged houses and people short of money fill the screen. “The streets cannot be cleaner. Neither leaner rat meat. No. Life is just as great, “he says, while the dirty streets flash on the screen.
The video also addresses the issue of pricing in the United Kingdom. “These fish fingers are a flight.
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44% of British adults now financially vulnerable
Coinbase video has 20.3 million people in the United Kingdom, 44% of all adults, now live in financially vulnerable conditions, up 16% since 2022, according to a recent Fair4all Finance report. The increase is driven by unstable income, limited savings, poor health and job loss.
The report noted a sharp increase of 59% of people with average income with high debt charges, now totaling 3.5 million. 1.9 million younger adults, up 45%, are also in difficulty, often based on the “Buying Now Pay” services later “and remained in zero hour contracts.
Food insecurity has worsened, food consumption of 11% to 15%. Half of financially vulnerable situations say they cannot afford healthy food. Many turn to salary loans and short -term credit to cover basic needs.
Two groups have seen the fastest growth. Low -income families without savings increased by 5% to 3.8 million, while those of a state of crisis, surviving fully on credit, increased from 12% to 3.9 million.
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UK crypto policy under fire
The United Kingdom was also criticized for its cryptographic policy. Last month, analysts of the Official Forum of Monetary and Financial Institutions (OMFIF), an independent reflection group, argued that the United Kingdom had wasted its early advantage in the finance of the great distributed book.
They said that the United Kingdom, which should once established a post-Brexit stallion for cryptography regulations, continues to “speak not specifically about regulations in the future”, citing “political procrastination” as a key reason why the country is late both the European Union and the United States.
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