US President Donald Trump promoted a 250th anniversary celebration of the Army that coincided with his birthday, leading to a sharp divide in how many Americans spent June 14.

Coinbase is facing backlash from crypto users after sponsoring the 250th anniversary celebration of the US Army in Washington, D.C.

In a June 16 X post, Adam Cochran, a partner at venture capital firm Cinneamhain Venture, said he would be exiting his positions at Coinbase — stocks, bonds, and moving crypto assets — following the exchange’s sponsorship of the military parade.

Cochran criticized the company for taking a political stance despite having previously said it would not advocate for certain causes. “[W]hile I don’t agree with being political silent (obviously) I can justify a business choosing to remain politically neutral and cause focused,” said Cochran.

“That’s fair. But sponsoring a military parade, in a divided country, with already split views of crypto isn’t true to this policy; and even if it wasn’t weird and gross, it’s just bad marketing that hurts this industries [sic] adoption.”