Coinbase might be wishing for a 'Ctrl+Z' right now. They've apologized for the email faux pas that put Pepe the Frog in the 'hate symbol' category.
Coinbase chief legal officer Paul Grewal has issued an apology after the crypto exchange sent out an email labeling the Pepe the frog meme as a “hate symbol” — a move that prompted many users to call for a boycott.
In a May 11 tweet, Grewal said Coinbase had “screwed up” in sharing information about the Pepe meme, which included that it had been co-opted by many alt-right groups as a hate symbol. According to the Coinbase CLO, the exchange was attempting “to provide a fact-based picture of a trending topic” to its users.
The price of the memecoin Pepe has significantly surged in the last 30 days, rising to an all-time high of roughly $0.000004 on May 4. Exchanges including Binance, OKX, MEXC Global, Bitget, Gate.io, Gemini and Huobi, amid the online frenzy. Many users responding to Grewal’s apology also called on Coinbase to start listing the token.to call for a boycott of the exchange, claiming that Pepe was not a hate symbol to members of the space. The hashtag #deletecoinbase was trending on Twitter after pseudonymous user borovik.eth posted the Coinbase email.
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