According to the author, Coinbase's sponsorship of political events, such as a military parade linked to President Trump, undermines crypto's original cypherpunk values of decentralization and could increase regulatory scrutiny and market volatility. This erosion of trust may affect investor sentiment, potentially leading to price fluctuations in major cryptocurrencies like BTC and ETH, as seen in current market data where BTC trades at $107,317 and ETH at $2,463.