Federal Reserve vs. Coinbase: Contradictory Data on Cryptocurrency Usage in the US
A stark contrast has emerged between data released by the Federal Reserve and figures touted by cryptocurrency exchange Coinbase regarding cryptocurrency usage in the United States. The Fed claims that Americans are shunning cryptos, questioning Coinbase’s figures and painting a picture of significantly lower adoption rates.
Federal Reserve Data Shows Lower Crypto Adoption
A new poll from the Federal Reserve consisting of 11,400 respondents contradicts the Coinbase data on cryptocurrency usage in the US. According to the data The “Economic Well-Being of U.S. Households in 2025” survey, prepared by the Federal Reserve and executed by Ipsos, has revealed that only 7% of the people polled have engaged with cryptocurrencies.
Ipsos conducted the Federal Reserve’s “Economic Well-Being of U.S. Households in 2025” survey, revealing that only 7% of US respondents owned or used digital currencies for any purpose. The US Federal Reserve’s recent data revealed that cryptocurrency usage and ownership among American adults dipped, with only 7% reporting any use.
Coinbase\'s Optimistic Numbers Disagree with Fed\'s Findings
On the contrasting figures between the Federal Reserve and Coinbase, the Fed\'s data differs significantly from Coinbase\'s optimistic numbers. While Coinbase claims that nearly one in five Americans owns cryptocurrency, the Federal Reserve\'s study presents a vastly different reality.
In January, the crypto exchange asserted that 52 million Americans owned cryptocurrency. This figure stands in stark contrast to the 7% revealed in the Federal Reserve’s “Economic Well-Being of U.S. Households in 2025” survey.
What Explains the Discrepancy?
The reasons for this significant discrepancy in data are complex. Differences in survey methodology, target demographics, and the definition of "cryptocurrency usage" could all contribute to the conflicting findings. It is important to consider these factors when interpreting both sets of data.
Furthermore, Coinbase urges the FDIC to amend its proposed recordkeeping rule to exclude state-regulated custodial accounts and avoid duplicative compliance burdens, suggesting potential biases within their data collection methods. Further research is needed to reconcile these conflicting viewpoints and gain a more accurate understanding of cryptocurrency adoption trends in the US.
While real-time market data for Coinbase Bitcoin (CBBTCUSD) is readily available, understanding the overall adoption rate requires careful consideration of all available data, including conflicting reports from sources like the Federal Reserve.