Brian Armstrong, CEO of cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN), responded on Sunday to the ban of the company’s alleged derogatory advertisement in the UK, saying that it was not meant to be a political statement.
What Happened: Armstrong took to X to express his views on the ban, stating, “If you can’t say it, then there must be a kernel of truth in it.”
Armstrong further added that the advertisement was not intended as a political statement, but rather a critique of the traditional financial system and an endorsement of the potential of cryptocurrency.
“There are people in the UK who still think of crypto as some kind of gambling product (a very outdated view), and have completely missed the potential of crypto, which is to update and improve the financial system for the benefit of everyone,” he said.