Coinbase sponsors America parade, the community debates whether crypto

Coinbase sponsors a parade celebrating the 250th birthday of the American military on June 14 in Washington D.C., coinciding with the "No Kings" protest against former President Trump's immigration and deportation policies. The event has sparked controversy within the crypto community, which is rooted in an ideology opposing centralized power and state control.

Coinbase – the largest crypto exchange in America – is among the 22 sponsors, alongside Amazon and Palantir. This action is seen as contrary to the decentralized spirit that Satoshi Nakamoto established when creating Bitcoin in 2009.

Many members of the community are questioning whether crypto has lost its role as a countercultural movement. Some argue that crypto has long ceased to be a form of resistance, while others defend the view that multidimensional development is an unavoidable aspect of a permissionless system.

Coinbase previously donated 1 million USD for Trump's inauguration in 2017, and this time it continues to receive public thanks from the parade organizers. This action is deepening the debate within the community about the future direction of the crypto industry.