Coinbase cryptocurrency exchange based in the U.S. recently emailed its customers. They described the popular meme coin Pepe Coin (PEPE) as a “hate symbol” used by alt-right organizations.
The US-based crypto exchange’s email labeling Pepe Coin (PEPE) as a “hate symbol” has caused a stir in the cryptocurrency market. The news has led to a lot of buzz, especially among PEPE investors and traders, and some have even called for a boycott of the exchange.
Crypto influencer Borovik.eth with 96,000 followers shared a screenshot of the Coinbase’s newsletter from May 10. It cited a 2016 decision by the Anti-Defamation League advocating to include the frog-themed character in its database of online hate symbols.
Borovik.eth shared an email from the Gemini crypto exchange, which expressed support for the Pepe token as an independent investment choice for customers. The email affirmed the exchange’s willingness to facilitate trading the Pepe token on its platform, allowing investors to invest in the token.
Kenobi, a Twitter user, has recently clarified that the PEPE symbol on Twitter is not a symbol of hate, as Coinbase claimed. In addition, Kenobi has urged Coinbase CEO Brian Armstrong to retract his vulgar statement about Pepe Coin.
This call for action highlights the need for reliable communication in the cryptocurrency community, especially from influential figures such as Armstrong.
Pepe fans’ hopes of getting their beloved meme coin listed on Coinbase have been dashed, as an email blast from the U.S.-based exchange suggests that they may not be adding the crypto project to their platform. The email may have been an attempt to clarify why the token was not being listed.
Coincidentally, on the same day, Pepe Coins were observed to have migrated to Gemini, where the coin was promptly listed for trading. The Pepe Coin community may have found a new home on Gemini’s exchange, while Coinbase has opted to take a pass on the controversial token.
