Who involved: Allen Dulles was the one who ran the Central Intelligence Agency, and he utilized it for certain purposes. The United States and Guatemala were also involved. Jacobo Arbenz Guzman was a piece in this event because he was the elected President in Guatemala.
What it was: In 1954, the Central Intelligence Agency organized a plot that took place in Guatemala against President Jacobo Arbenz Guzman, who was democratically elected. The United Fruit Company was upset because the President had seized land that belonged to America. When Guzman refused to give the land back, only pay for the property, the United Fruit Company turned to the United States. The U.S. President Eisenhower approved of the CIA, so, therefore, expanded it from just gathering intelligence to having the ability to interfere in sovereign affairs.
Significance to the War: This event was significant to the Cold War because it heavily affected the ability of the United States to have control and intel in other territories, secretly. The CIA now had extended abilities and could reach information and initiate activities not available before.