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Breaking: Coinbase Receives Backlash For Calling PEPE A “Hate Symbol”

Coinbase criticized by the Pepe community for calling Pepe meme a "hate symbol" and warns to delete their Coinbase account.
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Breaking: Coinbase Receives Backlash For Calling PEPE A “Hate Symbol”

Crypto exchange Coinbase sent emails to its users about Pepe Coin (PEPE) frenzy and meme coin trading reaching a two-year high. While Coinbase referred to Pepe the Frog meme-based PEPE token as “the memecoin of the moment,” it said, “Over time it has been co-opted as a hate symbol by alt-right groups, according to the Anti-Defamation League.”

After the Coinbase email newsletter, the crypto community, especially people supporting the PEPE meme coin criticized the crypto exchange for calling the most loveable meme on the internet a hate symbol. People asked Coinbase and CEO Brian Armstrong to apologize and remove the negative words about PEPE.

#DELETECOINBASE” started to trend on Twitter as the community warns to delete their Coinbase accounts. Some even go on to compare the posts of Gemini and Coinbase. Gemini announcing their support for PEPE and listing the meme coin said:

“PEPE builds upon the popular “Pepe the Frog” meme created by Matt Furie in the early 2000s. PEPE continues the tradition of giving the control of money back to the people. We’re here to empower you with greater choice, independence, and opportunity, as we continue on our mission to unlock the next era of financial, creative, and personal freedom.”

Also Read: Gemini Lists PEPE Meme Coin After Binance, Analyst Predicts Major Price Rally

David Gokhshtein, founder of Gokhshtein Media and former Congressional candidate, asserts that Coinbase can lose its clients for “disrespecting $PEPE.”

Popular digital artist Beeple also posted a picture of Pepe Army taking over Coinbase. As well as crypto influencers Kenobi, Pauly, and Autism Capital, saying PEPE movement is about love, equity, and a protest against VC-backed entities wrongly taking advantage of the Web3 community for years.

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Coinbase Avoiding PEPE Listing

Crypto exchange Coinbase is likely to avoid listing PEPE amid their disputes with the US SEC about listing securities. Meanwhile, the community has asked the exchange to list PEPE in response to its misinformation about the meme coin. Top exchange Binance is expanding its support for PEPE and FLOKI after listing last week.

PEPE price fell 9% in the last 24 hours, with the price currently trading at $0.0000017. The 24-hour low and high are $0.000001762 and $0.0000020, respectively. Furthermore, the trading volume has increased slightly in the last 24 hours, indicating an interest among traders.

Also Read: Binance, Coinbase Impacted As Jane Street, Jump Crypto Exit US Crypto Market

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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