On May 25, 2026, Coinbase reported a net loss of $1.49 per share and announced plans to cut 14% of its workforce. Despite the grim numbers, Katie Harries, head of Coinbase's policy unit in Europe, told CoinDesk she sees rising enthusiasm from Wall Street banks as a net positive for the entire crypto ecosystem. “A rising tide lifts all boats,” Harries said, adding that traditional financial institutions cannot replicate the grassroots support that has made crypto a movement beyond just finance.
Harries noted that in America and globally, crypto has evolved into a decentralized finance movement. Millions of users view digital assets not only as investments but as part of a community—something classic banks are not equipped to build.
Bitcoin Pizza Day Unites Global Grassroots
On May 23, Coinbase teamed up with Stand With Crypto, a grassroots advocacy organization claiming 3.7 million members, to stage Bitcoin Pizza Day events at more than 500 locations across all continents. The date marks the 16th anniversary of Laszlo Hanyecz's purchase of two pizzas for 10,000 BTC in 2010—worth roughly $770 million today. Stand With Crypto said its members have sent over 2.5 million communications to lawmakers in key markets including the U.S., U.K., Canada, Australia, Brazil and the European Union.
Harries rejected claims that American voters are indifferent to crypto issues, pointing to the volume of contacts as evidence that policymakers cannot ignore this constituency. Nonetheless, a CoinDesk survey of 1,000 Americans found only 1% named crypto as their top issue for the November elections.
Regulatory Window Narrowing, Executives on the Ground
Coinbase Chief Policy Officer Faryar Shirzad attended several global events, emphasizing that the gatherings showcase the international scale of the “crypto voter” and highlight the urgent need for clear regulation. Harries added that lawmakers have a limited window to craft a sensible framework. She reiterated that institutional adaptation to crypto benefits the ecosystem and should be seen as an opportunity for existing platforms rather than a threat.