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Update (June 16 at 10:13 pm UTC): This piece has been revised to incorporate additional details regarding Coinbase’s financial involvement.
Coinbase is encountering criticism from cryptocurrency users after supporting the 250th anniversary festivities of the US Army in Washington, D.C.
In a June 16 post on X, Adam Cochran, a partner at venture capital firm Cinneamhain Venture, stated he would be liquidating his positions in Coinbase — including stocks, bonds, and relocating crypto assets — following the exchange’s sponsorship of the military event.
Cochran condemned the firm for adopting a political stance despite having previously claimed it would remain neutral on certain issues. “[W]hile I don’t agree with remaining politically silent (obviously) I can rationalize a business’s choice to stay politically neutral and cause-focused,” remarked Cochran.
“That’s reasonable. However, sponsoring a military parade in a divided nation, where views on crypto are already polarized, does not align with this policy; and even if it weren’t peculiar and off-putting, it’s just poor marketing that hampers this industry’s [sic] adoption.”
Criticism from members of the crypto community arises amidst escalating political tensions within the United States.
The Saturday event was officially advertised as a semiquincentennial commemoration for the US Army, garnering public backing from US President Donald Trump, who celebrated his 79th birthday the same day.
The parade coincided with the tragic killing of a Minnesota state lawmaker and her spouse in their residence, a crime some officials described as politically charged. The assailant also attempted to murder a sitting state senator and his wife on Saturday.
Approximately five million individuals reportedly convened in US cities to protest numerous policies of the Trump administration, including deploying military forces in Los Angeles and deporting undocumented immigrants without due process.
“Coinbase’s decision to sponsor this military parade feels like an affront to everything our industry represents,” commented X user Captain Nemo in a June 15 post. “Crypto arose from principles of decentralization, personal sovereignty, and liberation from oppressive governmental control—not to direct resources into organizations whose fundamental purpose involves violence and taking lives.”
Related: Coinbase CEO’s transition from avoiding ‘political causes’ to employing DOGE staff
The ethos of crypto versus political engagements
Online conversations among crypto users centered around the implications of growing connections between corporations and governments on the culture of an industry birthed from the 2008 financial crisis and perceived as pro-libertarian and anti-establishment.
“For those who have yet to engage with crypto and only hear narratives such as this, it may seem like something under governmental control, making them less inclined to consider getting involved,” noted Redditor GreedVault regarding the Coinbase sponsorship.
“And while I am not attempting to excuse Coinbase, I do think Trump’s tendency to retaliate against adversaries isn’t something to be taken lightly […]”
Coinbase has previously made financial contributions to politicians, having donated $1 million to Trump’s inauguration fund. CEO Brian Armstrong also visited Washington, D.C. for the president’s March crypto summit and to urge lawmakers to support legislation regulating payment stablecoins in May.
The exchange’s chief policy officer, Faryar Shirzad, declared at the Bitcoin 2025 conference in Las Vegas that the company would also sponsor the 2026 semiquincentennial festivities for the US.
A source acquainted with the situation informed Cointelegraph that Coinbase’s financial involvement in the parade was through a one-time donation to America250, a “nonpartisan initiative” organizing a series of events for the nation’s semiquincentennial.
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