‘We screwed up’ — Coinbase CLO responds to outrage after exchange associated Pepe with hate groups

Coinbase chief legal officer Paul Grewal has actually released an apology after the crypto exchange sent out an e-mail identifying the Pepe the Frog meme as a “hate sign”– a move that triggered many users to call for a boycott.In a May 11 tweet, Grewal stated Coinbase had actually “screwed up” in sharing info about the Pepe meme, which consisted of that it had been co-opted by lots of alt-right groups as a hate sign. According to the Coinbase CLO, the exchange was attempting “to offer a fact-based image of a trending topic” to its users.The price of the memecoin Pepe (PEPE) has substantially surged in the last 30 days, increasing to an all-time high of approximately $0.000004 on May 4. Exchanges including Binance, OKX, MEXC Global, Bitget, Gate.io, Gemini and Huobi noted Pepe trading sets amid the online craze. Many users reacting to Grewals apology likewise called on Coinbase to begin listing the token.Coinbases 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 area. The hashtag #deletecoinbase was trending on Twitter after pseudonymous user borovik.eth published the Coinbase e-mail. Related: Coinbase execs visit UAE to evaluate capacity of strategic center for global operations”I never ever felt the need to erase my Coinbase account based off some misinformed copy pasta newsletter intern,” stated Twitter user 6101. eth. “I really appreciate all CB is providing for crypto advocacy in the U.S. [I] for one am wishing to see an apology e-mail with the right information sent out at least.”At the time of publication, the PEPE rate was approximately $0.0000013, having fallen by more than 27% in the last 24 hours.Magazine: Crypto Pepes: What does the frog meme?