By Brian Armstrong

In the U.S. the masses showed up and voted for more economic freedom and free markets in 2024 when they elected Donald Trump. Canada appears to be on a similar path with Pierre Poilievre. President Milei in Argentina and President Bukele led the charge in Latin America in 2023. In the UK, Starmer is shifting toward a pro-tech and innovation agenda to try to appeal to more voters, and in Germany Scholz will likely be voted out soon due to a slowing economy caused by bad fiscal policy.We’re at a pivotal moment in history: the world is waking up to the dangers of Marxism and socialism, seeing that it harms the people it claims to protect the most, and has never worked in practice. Yet some are still moving in the wrong direction. China, which rose under Deng Xiaoping's more free market policies, has now squandered its opportunity to surpass the U.S. with Xi Jinping's return to Marxism policies.Economic growth comes from free market capitalism, deregulation, small government, and technological innovation. It leads to lower prices, more jobs, more tax revenue, better healthcare, etc. The best way to lift people out of poverty and create prosperity for all is not socialism, but free market capitalism. If the rest of the G20 wishes to participate in economic prosperity, they would be wise to join the growing trend of embracing economic freedom and free markets.At Coinbase our mission has always been to increase economic freedom in the world. Just like freedom of speech or religion, economic freedom is essential for a prosperous society and civilizational progress. And we believe that crypto is the most important technology that can bring economic freedom to the world.Everyone, everywhere cares about and deserves economic freedom. Over three quarters of adults around the world say they want more economic freedom according to our survey. This isn’t surprising because it has been shown to create increased happiness, higher literacy rates, better treatment of the environment, and many other positive societal indicators (supported by research from the World Bank, Pew Research Center, and. WEF).

Yet economic freedom is on the decline and the world economy is mostly unfree.

We were on the right track over the last 100 years - economic freedom was on the rise, but then in the early 21st century it took a turn for the worse. The global average score for economic freedom is now the lowest it has been since 2001. The result: the majority of economies around the world are considered mostly unfree or even repressed.In the US, this means the standard of living is decaying and the American dream feels unachievable for most. Only 14% of Americans are optimistic about the future of the financial system. Around the world, 70% of adults now say their children will be worse off financially than their parents. The loss of economic freedom is driving people to lose faith in the system.Where did this recent rise in socialism come from? Why does this experiment keep getting tried? There seems to be something in human nature that is drawn to socialism, where each generation needs to learn the lesson the hard way. For some it comes from a genuine desire to help others, without realizing these policies hurt the people they claim to help. For others, they are preying on ignorant people to gain power, or it stems from some deeper hatred of themselves or humanity.Whatever the reason, history has shown us that whenever we face challenges, we as a species can invent creative solutions. From the printing press to the steam engine, from electricity to the internet—each breakthrough reinvigorated economies, empowered people, and pushed civilization forward. Crypto is the next chapter in that story.

Crypto can unleash the next chapter of capitalism: the age of economic freedom.

Coinbase’s core thesis is that greater adoption and usage of crypto will increase economic freedom. This is based on the promise of crypto to create a global economy, powered by tech & people rather than governments, where anyone with an internet connection can participate, property rights are enforced, and money preserves its value. This isn’t a dream. Crypto is already creating more economic freedom for real people TODAY:1. Stable Currency: Stablecoins are on track to be crypto’s next killer app, with transaction volume up over 3x YoY to ~$27T. Stablecoins are becoming part of people’s everyday financial lives beyond trading, especially in emerging markets, which lead the world in stablecoin adoption. 5 million Argentines actively use cryptocurrencies for everyday transactions and saving in dollars is the second most popular use case across emerging markets.2. Free Trade: Crypto operates on global networks that are free from the barriers imposed by middlemen and national borders - promoting free trade. Layer 2s can now deliver global transactions in under 1 second for under 1 cent, making crypto the only payment rail that checks all 3 boxes: fast, cheap, global. This is unlocking unprecedented trade freedom for people and businesses. Crypto simple sends are instant, cheap, and without imposed limits—unlike traditional services that are typically regionalized and/or have restrictions on transaction frequency and amounts. Just ask people why they use crypto. A Visa study found that one of top reasons people in Australia, Brazil, Germany, Hong Kong, South Africa, US, UK engage with crypto is for transaction freedom and lower fees.3. Property Rights: Crypto is enabling secure and enforceable property rights by replacing courts or middlemen with code and cryptographic security. Governments are turning to crypto to solve for the >5 billion people around the world who lack proof of ownership for their homes/land. On the blockchain, ownership is immutable and smart contracts can be used to automate and enforce rights that come with the ownership. For example, Georgia is placing land records on the blockchain and Sweden testing a crypto system for land registration.4. Permissionless Access: Crypto is erasing borders to build a more inclusive global financial system where people can both keep more of their hard earned money and do more with it. Decentralized finance (DeFi) is revolutionizing access to financial services by providing equal opportunity for anyone with an internet connection—from rural entrepreneurs to the 1.4B unbanked people—to participate in the global economy.Crypto adoption and usage has reached escape velocity. Almost 7% of the world now owns crypto and because people are turning to it to address real problems:

How to increase economic freedom in 2025

World leaders and policymakers: it’s time to embrace crypto + techno-optimism to accelerate economic freedom and human progress. Here are four real things you can do this year:

1. Pass laws to ensure crypto thrives onshore. Crypto is a new, unique technology that should not be governed by antiquated laws. Policymakers should be focused on developing clear, forward-looking regulatory frameworks that cultivate this innovation rather than pushing it offshore - or they risk getting left behind.
2. Establish a Bitcoin strategic reserve. It is the best performing asset class since inception and solidifying itself as a hedge against inflation. The next global arms race will be in the digital economy, not space. Bitcoin could be as foundational to the global economy as gold and will become central to national security in a world where holdings of bitcoin can shift the balance of power among nation states. Governments will race to build strategic bitcoin reserves, securing and uplifting their national economies while those without will lose their footing in the digital age.
3. Support Special Economic Zones to give builders the freedom to experiment with big ideas. You can do this safely with sandboxes for experimentation & innovation where builders can learn by doing. We’ve already seen how well this worked historically with cities like Shenzhen and Hong Kong, and new projects like Prospera have the potential to expedite innovation by embracing crypto.
4. Make your government more efficient. Similar to what Milei and DOGE are doing, we're re-learning that excessive government doesn't solve problems effectively, often it is the problem. No matter who or where you are, crypto is for you. Even if you don’t own or use crypto-powered financial services, you will still benefit. Crypto acts as the people’s check and balance on heavy-handed governments, over-regulation, lawfare, rising deficits, and curtailed innovation.

Everyone: It’s up to all of us to demand & build a path forward where builders, innovation, and free markets—not governments—are the driving force of economic growth. We must embrace economic freedom, and vote Marxist leaders out of office. Civilizational progress depends on it.