Crypto Twitter criticizes Coinbase for an article that called Pepe 'a hate symbol'.
Pepe was issued in mid-April and became the fastest Ethereum token to hit the $1B mark.
Coinbase,
the largest cryptocurrency exchange in the United States, is facing backlash on
Twitter for a newsletter article published on its website. In the article, the
author described Ethereum-based meme coin, Pepe, as a coin “that has been
co-opted as a hate symbol by alt-right groups,” citing the Anti-Defamation
League for the description.
Pepe, which
was launched in mid-April, is named after the Pepe the Frog internet meme. Over the
weekend, the meme coin became
the fastest Ethereum token to hit the $1 billion mark as meme coin trading topped $2.3 billion during the
past week. However,
the market capitalization of Pepe has dropped significantly in the past seven
days, from about $1.65 billion to about $627 million, according to
CoinMarketCap.
“For a few,
speculation on meme coins has
led to massive profits, but that doesn’t come without risks too — sometimes
meme coin
frenzies even precede broad declines in Bitcoin and Ethereum,” the article stated.
Coinbase Article Unsettles Crypto Twitter
The newsletter article on Coinbase ended with a disclaimer that noted: “The views and opinions expressed
herein are those of the author and do not necessarily reflect the views of
Coinbase or its employees.” However, the description of Pepe as a ‘hate symbol’
appeared to have unsettled some in the cryptocurrency community, regardless.
Reacting, so-called Cryptopunk rapper, Spottie WiFi, called the Pepe community "a movement."
Kenobi, a so-called musician and educator, noted that "Pepe is not a symbol of hate," adding that he will be closing down his accounts with Coinbase.
Also contributing, Twitter account Pauly, demanded an apology from Coinbase.
Another account, Autism Capital, criticized Coinbase for passing "mixed messages."
Coinbase,
the largest cryptocurrency exchange in the United States, is facing backlash on
Twitter for a newsletter article published on its website. In the article, the
author described Ethereum-based meme coin, Pepe, as a coin “that has been
co-opted as a hate symbol by alt-right groups,” citing the Anti-Defamation
League for the description.
Pepe, which
was launched in mid-April, is named after the Pepe the Frog internet meme. Over the
weekend, the meme coin became
the fastest Ethereum token to hit the $1 billion mark as meme coin trading topped $2.3 billion during the
past week. However,
the market capitalization of Pepe has dropped significantly in the past seven
days, from about $1.65 billion to about $627 million, according to
CoinMarketCap.
“For a few,
speculation on meme coins has
led to massive profits, but that doesn’t come without risks too — sometimes
meme coin
frenzies even precede broad declines in Bitcoin and Ethereum,” the article stated.
Coinbase Article Unsettles Crypto Twitter
The newsletter article on Coinbase ended with a disclaimer that noted: “The views and opinions expressed
herein are those of the author and do not necessarily reflect the views of
Coinbase or its employees.” However, the description of Pepe as a ‘hate symbol’
appeared to have unsettled some in the cryptocurrency community, regardless.
Reacting, so-called Cryptopunk rapper, Spottie WiFi, called the Pepe community "a movement."
Kenobi, a so-called musician and educator, noted that "Pepe is not a symbol of hate," adding that he will be closing down his accounts with Coinbase.
Also contributing, Twitter account Pauly, demanded an apology from Coinbase.
Another account, Autism Capital, criticized Coinbase for passing "mixed messages."
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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