At the recent Bitcoin Conference in Las Vegas, Faryar Shirzad, Coinbase’s Chief Policy Officer, took the stage with a surprising announcement. In a nearly empty room, his voice echoed across the cavernous hall as he proudly revealed Coinbase’s latest move: becoming a major sponsor of the America250 effort. This nonprofit, originally established by Congress during President Obama’s administration to plan the nation’s 250th Independence Day celebrations, was now under the spotlight for a different reason.
Coinbase, the world’s largest crypto exchange and owner of a significant portion of Bitcoin’s supply, was funding a patriotic event that included a grand military parade celebrating the U.S. Army’s 250th birthday. The parade, scheduled for June 14th—Trump’s birthday—would feature hundreds of cannons, Black Hawk and Chinook helicopters, fighter jets, and dozens of military vehicles, including tanks. This spectacle, costing taxpayers up to $45 million, was a project long sought by former President Trump, who had been eager to see a military parade in Washington similar to Bastille Day celebrations abroad.
The conference itself was a vivid blend of crypto innovation and political fervor. The “Code and Country” event, part of Industry Day, was a VIP-only affair filled with MAGA-themed panels featuring Republican lawmakers, White House officials, and political operatives praising Trump as the “crypto president.” Meanwhile, the general attendees—tech-savvy investors, technologists, and crypto enthusiasts—were immersed in discussions about decentralization, blockchain technology, and the promise of financial sovereignty.
Yet beneath the surface, the conference revealed a deep intertwining of crypto with politics. Coinbase’s sponsorship of the military parade and their past donations—such as a $1 million check to Trump’s inauguration—highlighted how industry giants were aligning with political figures and nationalistic displays. The event’s atmosphere was reminiscent of political rallies, with speakers and panels echoing MAGA slogans and titles like “The Next Golden Age of America” and “Making America the Global Bitcoin Superpower.”
The conference also showcased a prominent presence of Republican politicians and Trump allies, including senators, congressmen, and White House officials, all heralding Trump’s influence on the crypto industry. Panels discussed topics like Bitcoin’s role in solving the national debt crisis and transforming America into a Bitcoin superpower, often featuring speakers like Vivek Ramaswamy and Donald Trump Jr.
Despite the political overtones, the conference still buzzed with the usual crypto excitement—celebrity athletes, meme culture, and innovative projects. However, the political undertones couldn’t be ignored. The presence of MAGA branding, the sponsorships from right-wing media and companies, and the conspicuous support for America250 painted a picture of a crypto community increasingly entangled with nationalist politics.
Behind closed doors, industry insiders shared candid conversations about the loyalty and influence of politics on crypto. Some expressed concern over the re-emergence of figures like Justin Sun, who faced SEC investigations but remained a prominent supporter of Trump and crypto. Others debated whether the industry’s support for political figures was unconditional or conditional on future favors.
Amidst the networking and VIP events, some attendees voiced worries about the potential for government betrayal. A panel discussion on whether Bitcoiners were becoming sycophants of the state ended with a passionate speaker warning against the dangers of industry loyalty turning into complicity with authoritarian power.
As the conference drew to a close, the scene shifted to the “Code, Country and Cocktails” afterparty at a Las Vegas nightclub. There, amidst champagne glasses and a tropical pool, crypto influencers, MAGA supporters, and industry leaders mingled—some showing off photos with Trump, others discussing the potential influence of politics on their digital assets. Surprising attendees, including Steak ‘n Shake executives now accepting Bitcoin and sponsoring the event, exemplified how deep the crypto-political connection had become.
The conference also revealed ongoing concerns about the return of controversial figures like Justin Sun, who had faced fraud investigations but was now back in the U.S. and dining with Trump. Industry insiders debated the implications of such alliances and the loyalty of the crypto community to political power, recognizing that many support or tolerate these figures conditionally—driven by promises of regulatory favor and industry growth.
As panels wrapped up with discussions on Bitcoin’s resilience and future prospects, the overarching theme was clear: the line between crypto innovation and political influence is becoming blurred. With billion-dollar sponsorships, patriotic parades, and high-stakes networking, the 2023 Bitcoin Conference in Vegas was more than just a tech event—it was a reflection of a community at a political crossroads, where ideology, influence, and industry collide.
