The legal officer of Coinbase, Paul Grewal, tweeted an apology for the exchange’s recent newsletter’s incomplete explanation of the history of the meme in light of Pepe’s (PEPE), a memecoin with a frog theme, and other memecoins’ explosive growth. as well as receiving harsh criticism from the cryptocurrency community.
We screwed up and we are sorry.
Yesterday we shared an overview of the $pepe meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.
— paulgrewal.eth (@iampaulgrewal) May 11, 2023
Following the contentious newsletter regarding the portrayal of Pepe memecoin, the top cryptocurrency exchange, Coinbase, has created an apology tweet. According to the newsletter, the Pepe token has been applied in racial online contexts.
On Twitter, the newsletter has drawn criticism since it was released on Wednesday. The newsletter from Coinbase concentrated on the divisive elements of memecoin’s past. Even though there was a disclaimer, Pepe supporters were upset that the authors had distanced themselves from Coinbase’s viewpoint. Utilizing the hashtag #declinecoinbase, Pepe supporters on Twitter criticized the newsletter. Furthermore, the Pepe coin is not a hate symbol, according to the coin’s supporters.
Compiled by Coinbold