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Coinbase remains unperturbed by the growing involvement of traditional financial institutions in cryptocurrency markets, according to the exchange’s Head of Policy for Europe, Katie Harries, who spoke with CoinDesk on Friday.
“We have always maintained that a rising tide lifts all ships,” Harries stated, emphasizing that Coinbase is not concerned about Wall Street giants entering the crypto space. The company recently reported a quarterly loss of $1.49 per share, missing analyst expectations of a $0.27 profit, and announced a 14% workforce reduction in early May.
In a written interview regarding the Stand With Crypto (SWC) events, Harries highlighted that the global mobilization demonstrates the established crypto industry has a loyal community that traditional financial institutions cannot replicate.
Millions of people worldwide have embraced cryptocurrency because they believe in its core principles of open, accessible, peer-to-peer finance, Harries explained. The advocates participating in SWC events across London, Paris, New York, São Paulo and other cities are motivated by their belief in the technology and desire for government support, not by institutional directives.
‘Voters do care about crypto’
While cryptocurrency may not be the top priority for American voters heading into November midterms, Harries noted that voters do care about digital assets and have contacted their lawmakers millions of times to express their views. “Voters do care, and the numbers make that clear,” Harries said, countering recent statements from senators.
Stand With Crypto now represents over 3.7 million advocates across six markets, with members contacting lawmakers more than 2.5 million times total. This demonstrates that crypto voters represent a permanent fixture in the political landscape, both in the United States and globally, Harries added. Policymakers who have been slow to engage with this community should take note.
A recent CoinDesk survey of 1,000 randomly selected U.S. voters found that only 1% ranked crypto as their top concern. The survey, which was evenly split between Republican and Democrat respondents with a credibility interval of plus or minus 3.53%, suggests that while crypto may not dominate voter concerns, it still maintains significant interest across the political spectrum.
‘Time for sensible regulation is now’
Harries called on regulators worldwide to implement sensible crypto frameworks, stating that the window for shaping responsible regulation is currently open and the global community is watching. SWC, which Coinbase describes as the world’s largest crypto-advocacy organization with over 3.7 million members globally, is hosting 500 events across four continents and six markets including the United States, United Kingdom, Canada, Australia, Brazil and the European Union.
The global events coincide with Bitcoin Pizza Day, commemorating the first real-world bitcoin transaction on May 22, 2010, when Laszlo Hanyecz paid 10,000 BTC for two pizzas—worth approximately $770 million at current prices. A livestream during the event will feature discussions on ecosystem and policy developments worldwide.
The event takes place at a crucial moment as market structure legislation advances through the U.S. Congress. Faryar Shirzad, Chief Policy Officer at Coinbase and SWC partner, emphasized that the rally proves the crypto voter represents a global phenomenon, with people worldwide wanting the freedom to exchange value peer-to-peer and seeking government support for financial progress.
