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Coinbase (NASDAQ:COIN)'s recent Q3 State of Crypto report, crafted in partnership with Bovitz and Morning Consult, has revealed a widespread disillusionment with the American financial system. According to the study, less than 10% of respondents expressed approval for the current system. Specifically, only 7% felt that the system serves their interests adequately.

The survey identified a generational divide in attitudes towards the financial system. Millennials described it as "outdated," voicing their frustration, while Gen Z respondents found it "confusing" and "inadequate." These sentiments are indicative of the financial pressures younger generations are experiencing.

Despite this disillusionment, nearly 40% of respondents see potential in crypto and blockchain technology as tools for future opportunities and job creation. The report suggests a shift in political landscape is on the horizon as these generations grow in influence. By 2028, millennials and Gen Z are projected to dominate the electorate, with over half expected to vote for crypto-friendly candidates in the 2024 elections.

While Coinbase awaits U.S. approval for a Bitcoin ETF, they have expressed concerns over enforcement-led regulation hindering crypto development. This has led them to take a stand against an ongoing SEC lawsuit and has prompted tech experts to consider establishing "crypto hubs" abroad.

https://www.investing.com/news/cryptocurrency-news/coinbase-report-reveals-disillusionment-with-us-financial-system-93CH-3212121