Coinbases PEPE description causes backlash in crypto community

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An email sent to Coinbase customers describing the Pepe meme as a “hate symbol” co-opted by alt-right organizations has drawn considerable anger from the PEPE meme coin community.

Borovik.eth, a prominent crypto influencer, took a screenshot of the email newsletter dated May 10 and posted it with its 96,000 subscribers. He referred to a decision by the Anti-Defamation League in 2016 to include the frog-themed figure in its database of online hate symbols.

The description of the token has infuriated both fans of the frog-themed meme coin and holders of the cryptocurrency. As a result, there were demands for Coinbase to apologize, and customers began canceling their accounts with the cryptocurrency exchange.

Kenobi, a pseudonymous Twitter user and solidity developer, said Pepe was not a sign of hate. Therefore, it would transfer assets to the Gemini crypto exchange, which is located in the United States. He concluded his statement with the hashtag: “#deletecoinbase”.

Since Binance made the token available for trading on May 5, crypto Twitter users who own Pepe have asked several cryptocurrency exchange executives to include the token.

Coinbase has yet to provide many clues or indications as to whether or not it plans to add the Pepe cryptocurrency to its exchange.

PEPE Price Drops Ahead of Coinbase Statement

Hours after news of the Coinbase description began spreading on Twitter, Pepe’s price saw a 14% drop. Pepe was trading at $0.00000166 at press time with a 12% decline.

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