{"id":18562,"date":"2023-05-11T19:49:59","date_gmt":"2023-05-11T19:49:59","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/we-screwed-up-coinbase-clo-responds-to-outrage-after-exchange-associated-pepe-with-hate-groups\/"},"modified":"2023-05-11T19:50:00","modified_gmt":"2023-05-11T19:50:00","slug":"we-screwed-up-coinbase-clo-responds-to-outrage-after-exchange-associated-pepe-with-hate-groups","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/we-screwed-up-coinbase-clo-responds-to-outrage-after-exchange-associated-pepe-with-hate-groups\/","title":{"rendered":"‘We screwed up’ \u2014 Coinbase CLO responds to outrage after exchange associated Pepe with hate groups"},"content":{"rendered":"
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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 \u201chate symbol\u201d \u2014 a move that prompted many users to call for a boycott.<\/p>\n

In a May 11 tweet, Grewal said Coinbase had \u201cscrewed up\u201d 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 \u201cto provide a fact-based picture of a trending topic\u201d to its users.<\/p>\n

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The price of the memecoin Pepe (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, listed Pepe trading pairs amid the online frenzy. Many users responding to Grewal\u2019s apology also called on Coinbase to start listing the token.<\/p>\n

Coinbase\u2019s May 10 email prompted many Crypto Twitter users 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. <\/p>\n

Related: <\/em><\/strong>Coinbase execs visit UAE to test potential of \u2018strategic hub\u2019 for international operations<\/em><\/strong><\/p>\n

\u201cI never felt the need to delete my Coinbase account based off some misinformed copy pasta newsletter intern,\u201d said<\/a> Twitter user 6101.eth. \u201cI truly appreciate all CB is doing for crypto advocacy in the U.S. I’m for one am hoping to see an apology email with the correct info sent out at the very least.\u201d<\/p>\n

At the time of publication, the PEPE price was roughly $0.0000013, having fallen by more than 27% in the last 24 hours.<\/p>\n

Magazine: <\/em><\/strong>Crypto Pepes: What does the frog meme?<\/em><\/strong><\/p>\n<\/div>\n