The memecoin community has expressed significant outrage over an email that Coinbase sent out to its customers, describing memecoin Pepe (PEPE) as a “hate symbol” co-opted by alt-right groups.
https://twitter.com/3orovik/status/1656453389192921088
Borovik.eth, a prominent crypto influencer, shared a screenshot of the email newsletter from May 10 with his 96,000 followers. The email cites a 2016 decision from the Anti-Defamation League to place the frog-themed character in its database of online hate symbols.
The description of the frog-themed memecoin in the email outraged fans and holders of the token, prompting them to call for an apology from Coinbase and encouraging other users to delete their accounts with the crypto exchange.
In response to the email, Twitter user and solidity developer @Kenobi declared that Pepe is not a symbol of hate. He also stated that he would be moving funds to the US-based crypto exchange Gemini as a result and completed his tweet with the hashtag: “#deletecoinbase”.
According to data from Tweetbinder, the hashtag “#deletecoinbase” has hit the trending bar of Twitter, with more than 14,000 tweets in the last two hours and counting.
Pepe-holding members of crypto Twitter have been asking leaders from many cryptocurrency exchanges to list the token as well since Binance listed the token for trading on May 5.
There is no indication from Coinbase yet, as to whether the exchange intends to list the Pepe token on its platform.
Gemini CEO Cameron Winkelvoss listed the memecoin for trading on May 9 on the Winklevoss-owned crypto exchange with a more open-ended description of the new token.
After news of Coinbase’s description circulated on Twitter, the price of Pepe fell 2.6% in the hours following. According to data from CoinGecko at the time of publication, Pepe is trading for a value of $0.00000184, down 10.4% in the last 24 hours.
Also Read: Pepe Coin Gains 100% on Binance Buzz, Crosses $1B CAP
