- Coinbase sponsors the parade of the 250th anniversary of the American army.
- Critics say that this decision is contrary to crypto.
- Another question if this goes against the previous commitment of exchange to political neutrality.
“Raw.”
“Tearing.”
“An insult to everything our industry represents.”
Coinbase is confronted widespread backlash Regarding his decision to sponsor the military parade of the 250th anniversary of the American army, which took place on Saturday in the Capitol, in collaboration with the own anniversary of President Donald Trump.
The name and mark of the US Crypto Exchange appeared on screens, banners and speakers during the event alongside other business sponsors, including entrepreneurs from the Palantir and Lockheed Martin army.
Critics say that the link is contrary to the guiding principles of the crypto.
“The crypto has come out of the ideals of decentralization, individual sovereignty and freedom of oppressive control of the State – and not resources in institutions whose central purpose implies violence and the end of lives”, Nemanja Cerovac, developer and cryptographic investor, said on X.
In addition, this decision seems to contradict Coinbase’s commitment to remain politically neutral.
“We do not argue of internal causes or candidates who are not linked to our mission, because it is a distraction of our mission,” said CEO Brian Armstrong in a 2020 blog.
Corporate capture
In recent years, the cryptography industry has become more hidden with the government and the interests of companies.
Trump has prompted the US government to buy crypto for a strategic reserve while ratifying $ 57 million In the benefits of a cryptographic company, he supports.
At the same time, Wall Street’s financial giants such as Blackrock and Fidelity lock growing quantities of Bitcoin and other cryptographic assets through funds negotiated on the stock market.
The concern among many of the industry is that the cryptocurrency movement is captured by the interests of companies and assimilated in the system which he has long sought to challenge.
The sponsorship of Coinbase of the military parade, they say, is another example of this trend.
“The trajectory of the crypto of the anti-state / anti-fiat challenge to the literal sponsor of firearms which supports fiduciary currency, incredible stuff”, Colin Henry, researcher in politics at the University of Zürich, said on social networks.
‘All that is not political’
Despite Coinbase’s policy to stay above the fray, several criticisms say The sponsorship of the parade is intrinsically political.
“The crypto will meet the same universities of Law Buzzsaw by exercising high -level political positions which have little to do with the market of products or targets”, Paperimperium, a governance link for the DAO GFX Labs service company said on X.
“Sponsor a sports team or a musician next time. Everything that is not political. “
“The American army is not political, it is American,” said Viktor Bunin, specialist in Coinbase protocol, said In response.
“Men and women defending our nation and our way of life deserve our respect and support”, Bunin said. “Coinbase is based and ahead of the curve on cultural issues.”
Coinbase did not immediately respond to a request for comments.
Others argue that sponsorship was not a deaf error, but a calculated decision of a company looking for its results.
Trump has long wanted to preside over a demonstration of military force even if the former presidents largely avoided practice as non -American.
The continuous pressure of the administration to establish new regulations for the cryptographic industry has not been lost for certain skeptics, which were dismayed to see a digital asset company behaving like another Fortune 500 company.
“The thing about Coinbase sponsors the army is that (crypto twitter) hates it, Coinbase surely knew (they) would hate it, and Coinbase really didn’t care because the government is much more important for that than Crypto Thinkbois”, David Phelps, a founder and cryptographic investor, said on X.
“The culture of cryptography has been so successful that it went out of words,” he said.
Tim Craig is the DL News -based correspondent, based in Edinburgh. Handle with advice on[email protected].
