Coinbase is racing to stay ahead of a wave of new competitors as it pivots from being a pure crypto exchange to a broader financial services platform.
With Bitcoin hitting record highs and US regulation creating fresh momentum for institutional adoption, the company faces growing pressure from both traditional finance and emerging crypto players, according to a new report from the Financial Times.
The ad was rejected for not meeting broadcast standards due to a lack of risk warnings. The campaign came as the exchange seeks to expand beyond trading into custody, payments, asset management, and derivatives. Founded in 2012, Coinbase entered the S&P 500 this year and now boasts a market cap of $83 billion.
In July, Coinbase launched a high-budget TV ad in the UK that framed cryptocurrency as a solution to a failing financial system.
However, second-quarter earnings disappointed, and the stock dropped 15%, signaling investor caution. A growing concern is the company’s exposure to the price of Bitcoin. Trading fees, still the core of Coinbase’s revenue, rise and fall with crypto market volatility.
Its shares have surged 70% since Donald Trump’s election, thanks in part to his administration’s crypto-friendly stance.
