Coinbase Criticized for US Army Parade Sponsorship

Coinbase is facing significant backlash from the crypto community after sponsoring the US Army's 250th anniversary parade in Washington, D.C., an event seen as politically charged due to its coincidence with former President Donald Trump's birthday and ongoing national protests against Trump administration policies. Critics argue that the sponsorship contradicts Coinbase's previously stated position of political neutrality and goes against the crypto industry's foundational ethos of decentralization and resistance to state control. The controversy has reignited concerns about crypto losing its anti-establishment roots, particularly as other major sponsors included defense contractors and tech firms, intensifying criticism over alignment with establishment interests. Prominent Coinbase customers and other community members have voiced their disapproval, with some users divesting from the platform in protest. The incident has sparked debate over the industry's values and its mainstream adoption strategy. Coinbase's prominent branding at the parade has further fueled accusations of supporting institutions associated with state power and militarization.