Cryptocurrency exchange Coinbase has come under fire after sponsoring the 250th anniversary celebration of the US Army in Washington, D.C. The event, which coincided with former US President Donald Trump’s 79th birthday on June 14, sparked a wave of criticism within the crypto community, raising questions about Coinbase’s stance on political neutrality.
Image 1 (Source: Unsplash)
Backlash from the Crypto Community
After Coinbase decided to back the military parade, Adam Cochran, who has been tied to the company as both an investor and user for years, didn’t mince his words and made his disappointment clear. He announced plans to divest from Coinbase, including selling shares and moving his crypto holdings to other platforms. Cochran expressed disappointment that Coinbase, which had previously committed to remaining politically neutral and focused on its core mission, appeared to have taken a political stance by supporting the military parade.
Though Cochran acknowledges the value of businesses choosing to stay neutral, he argued that backing a military event amid the country’s political divisions runs counter to that principle. He described the sponsorship as not only an odd and distasteful move but also a marketing misstep that could set the industry back. Cochran also pointed to concerns about Coinbase’s recent approach to handling user data, which he felt treated customers more like numbers than individuals.
Despite his grievances, Cochran made it clear he still respects many within Coinbase and hopes the company can course-correct. For now, however, he’s voting with his wallet and encouraging others in the crypto space to consider whether their investments align with their values.
The Parade and Its Wider Context
The military parade itself marked a significant milestone for the US Army, celebrating 250 years since its founding. While the event was officially supported by Donald Trump, its timing and symbolism have been met with mixed reactions nationally. On the same day as the parade, a politically charged attack occurred in Minnesota where a state legislator and her spouse were killed, with officials suggesting a political motive behind the violence. Another attempt on a state senator and their partner further amplified tensions.
Adding to the complexity, protests erupted across various US cities with millions rallying against several Trump administration policies, including the use of military forces in urban centres and immigration enforcement actions. This volatile atmosphere meant that Coinbase’s sponsorship was seen by many as tone-deaf and misaligned with the values that underpin much of the crypto community.
Made the decision today that I’ll be exiting my Coinbase positions (stocks/bonds) and keeping my assets elsewhere for the time being.
I’ve been a Coinbase customer for over a decade now, and appreciate the early work they did in the space.
And while I don’t agree with being… pic.twitter.com/WsuoLjR2pu
— Adam Cochran (adamscochran.eth) (@adamscochran) June 16, 2025
Crypto Culture Versus Political Engagement
The cryptocurrency industry was born out of frustration with traditional financial systems and government overreach, often championing decentralisation, personal sovereignty, and freedom from institutional control. Against this setting, plenty of crypto supporters saw Coinbase’s choice to sponsor the military parade as sailing far from the true heart and soul of the crypto movement.
Image 2: (Source: Bankrate)
Crypto advocate Captain Nemo commented on social media, emphasising that the industry’s foundations lie in opposing oppressive state mechanisms, rather than supporting institutions linked to violence. This sentiment resonated widely within the community, fuelling debates about the appropriate relationship between crypto firms and government entities.
There are concerns that such political entanglements could tarnish crypto’s reputation and discourage new users. Reddit user GreedVault pointed out that for those unfamiliar with crypto, seeing companies like Coinbase back government events might reinforce perceptions of central control, which is the very thing crypto aims to avoid. On top of that, there’s been talk that Coinbase’s backing of the parade was a way to keep in the good books politically, especially considering Trump’s reputation for coming down hard on those who cross him.
Coinbase’s Political History and Future
Coinbase’s engagement with politics is not new. Coinbase has dipped its toes into political waters before. Back in 2017, the company forked out a hefty sum to back Donald Trump’s inauguration. Since then, CEO Brian Armstrong has been no stranger to Capitol Hill, rubbing shoulders with lawmakers at crypto gatherings and pushing hard for laws that bring some order to the wild world of stablecoins. More recently, Coinbase’s chief policy officer, Faryar Shirzad, announced plans to sponsor the 2026 US semiquincentennial celebrations.
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The recent parade sponsorship reportedly came through a one-off donation to America250, a nonpartisan initiative organising events for the country’s 250th anniversary. While America250 claims to avoid political bias, the association with a Trump-endorsed military event during a politically charged period complicated the optics.
