PEPE Fans Mass Report Coinbase to SEC; Exchange Apologizes

PEPE token falls by 32% after Coinbase serves an apology for not providing the full picture about the emerging memecoin.

Pepe looking smug sitting down in pepe land.
Created by Kornelija Poderskytė from DailyCoin
  • PEPE fans organized boycott trends as #DELETECOINBASE.
  • Coinbase’s top lawyer issues an apology on Twitter.
  • PEPE token sinks 32% in a day, dropping out of TOP 50.

The second largest American crypto exchange Coinbase is facing immense backlash from PEPE memecoin fans. The coordinated attack on Coinbase and the company’s CEO Brian Armstrong took off when the exchange labeled Pepe The Frog a “hate symbol” that allegedly represents far-right extremist movements, linked to racist, sexist, and homophobic cults.

Naturally, this perspective infuriated $PEPE holders on Twitter. Soon after the newsletter went live, a group of $PEPE holders organized a coordinated attack against Brian Armstrong. After a flurry of memes portraying Brian Armstrong as a colorful clown with a big red nose, After a flurry of memes portraying Brian Armstrong as a colorful clown with a big red nose, the $PEPE community repeatedly demanded Coinbase’s CEO to list the memecoin.

Indeed, after numerous verbal threats and intense cyberbullying of Coinbase’s CEO, the crypto exchange’s top lawyer came through with an honest apology to the active and ambitious community, however, not without the help of mass reports on Coinbase to the U.S. Securities and Exchange Commission (SEC).

Pepe’s Ultimatum: Delete Coinbase or List PEPE

This Friday, Crypto Twitter is marked with trending hashtags like #DELETECOINBASE, #LISTPEPE and #PEPEISLOVE. The vast community managed to get their point across, as Coinbase’s openly traded stock fell by 3.66% since the scandalous newsletter surprisingly called PEPE a hate symbol.

At press time, the #79 ranked caecilian cryptocurrency Pepe (PEPE) trades at $0.00000129, according to CoinGecko. With a 32% downtrend in the last 24 hours, $PEPE slid 30 positions down. Currently, the quickly emerging memecoin has a $544 million market cap, which was cut in half since its Binance listing.

On the Flipside

  • Despite the apology, Coinbase didn’t list $PEPE or give any promises in regards to the frog-themed memecoin’s inclusion.

Why You Should Care

PEPE quickly emerged as a new memecoin with a very large community.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.