Coinbase is confronted with reactions from crypto users after sponsoring the celebration of the 250th anniversary of the American army in Washington, DC
In a post of June 16, Adam Cochran, partner of the venture capital company Cinneamhain Venture, said that he would leave his positions in Coinbase – shares, obligations and move of cryptographic assets – after the sponsorship of the military parade.
Cochran criticized the company for adopting a political position despite having declared that it would not plead for certain causes. “”[W]Hile I do not agree to be silent political (obviously), I can justify a company that chooses to remain politically neutral and to cause a concentration, “said Cochran.
“It’s fair. But sponsor a military parade, in a divided country, with already divided views of crypto is not true to this policy; And even if it was not weird and raw, it’s just bad marketing that harms these industries [sic] adoption.”
Critics of the members of the cryptographic community are involved in deepening political tensions in the United States.
The Saturday event was officially promoted as a semi-printing celebration for the American army, receiving public support from US President Donald Trump, who celebrated his 79th anniversary on the same day.
The parade took place on the same day as a minnesota state legislator and her husband were killed at their home, a crime that some officials were politically motivated. The attacker also tried to kill a state -owned state senator and his wife on Saturday.
About five million people would have gathered in American cities to protest against many policies of the Trump administration, including the sending of military forces to Los Angeles and the deportation of undocumented immigrants without regular procedure.
“What Coinbase has done by sponsoring this army parade looks like an insult to all that our industry represents,” said user captain X Nemo in an article on June 15. “The crypto has emerged from the ideals of decentralization, individual sovereignty and freedom of oppressive control of the State – not to make resources in institutions whose central purpose implies violence and the end of lives.”
In relation: The trip of the CEO of Coinbase from non-“political causes” for hiring DOGE staff
The culture of the crypto vs political causes
Online discussions between cryptos users have focused on growing links between businesses and governments could mean for the culture of an industry, created after the 2008 financial crisis and considered pro-libertarian and anti-establishments.
“For those who have never tried the crypto and only hear stories like this, it may appear as something that the government controlled, which makes them less likely to envisage to get involved,” said Redditor Greedvault about the sponsorship of Coinbase.
“And even if I do not try to apologize for Coinbase, I think that Trump’s tendency to retaliate against those who challenge him is not something to take lightly […]””
https://www.youtube.com/watch?v=VKC5QCRVDC0
Coinbase has already contributed to politicians, contributing to $ 1 million to the Trump inauguration fund. CEO Brian Armstrong also made visits to Washington, DC, for the summit of the President of March Cryptography and to push the legislators to vote in favor of a bill to regulate payment staboins in May.
The director of exchange policies, Faryar Shirzad, announced at the Bitcoin 2025 conference in Las Vegas that the company would also spare the celebration of the semi-cemintennial 2026 for the United States. Cointelegraph contacted a spokesperson for Coinbase to comment but did not receive an answer at the time of publication.
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