Only 1 in 5 Americans say U.S. financial system is secure, survey finds
Few Americans trust the financial system
Only about 1 in 5 Americans believe the U.S. financial system is secure, according to a new survey from the DeFi Education Foundation. The findings show declining trust in traditional financial institutions and growing interest in alternatives.
The results were shared in CoinDesk's Crypto for Advisors newsletter. Crypto refers to digital assets that run on blockchain, a decentralized digital record system.
Key survey results
- 19% of Americans say the current U.S. financial system is secure
- 63% say the system needs upgrades to fight new threats like cybercrime and AI
- Only 10% of Americans completely trust large national banks
- Trust in credit unions — the most trusted institution measured — fell 5 percentage points in one year to 48%
- 31% strongly agree the financial system works well for people like them
- 14% believe banks and other financial institutions charge reasonable fees
- 66% of Americans want access to their money at all times
- 80% say changes are needed to give people more control over their personal data
- 74% say financial privacy is important to them
How the study was done
The DeFi Education Foundation conducted a national, longitudinal study using Ipsos on KnowledgePanel. The newsletter notes this is the same gold-standard methodology used for the Federal Reserve's Survey of Household Economics and Decision Making.
Crypto use is growing
More than 1 in 5 Americans (22%) have owned or used crypto, up from 18% in 2025. Only 9% say they are extremely or very familiar with crypto.
What this means for financial advisors
Newsletter contributors say the declining trust in traditional finance creates an opening for financial advisors. They suggest advisors can help clients better understand how their assets are allocated and offer options that give clients more control and visibility into their portfolios.
The contributors say Americans' desire for more control over their money and personal data supports the case for greater transparency in financial advising.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.