Users are up in arms against Coinbase for bad words about the PEPE meme token

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Users criticized the management of the Coinbase crypto exchange for calling the Pepe the Frog meme a symbol of hatred and calling the craze for meme tokens madness.

Coinbase management published an article inwhich expressed bewilderment at the memcoin craze. In recent weeks, investors have flocked to joke cryptocurrencies and non-fungible tokens (NFTs), sending the market to a peak not seen since 2021. 

Number of tokens with low marketcapitalization is growing, transaction fees in large blockchains are also increasing. Coinbase mentioned the token named after the Pepe the Frog meme, saying that trading such crypto assets is extremely risky and many of them may be scams.

The PEPE token was released in honor of Pepe the Frog,which first appeared on the Internet about 20 years ago. Over time, it began to be used by the alt-right as a symbol of hatred. Last weekend, the capitalization of the PEPE meme token exceeded $1 billion, but soon its rate collapsed by more than 50%. However, PEPE is one of the few meme tokens, along with DOGE and SHIB, that is among the top 100 cryptocurrencies by market capitalization.

The crypto community, especially PEPE supporters,Coinbase was criticized for saying bad things about the beloved frog. Many even asked Coinbase and its CEO Brian Armstrong to apologize and remove negative comments about PEPE.

In this regard, it became popular on Twitterhashtag “#DELETECOINBASE” - this is how the community tries to warn the exchange about deleting their accounts. Many users noted that unlike Coinbase, the Gemini exchange announced support for PEPE and added this token to the listing.

Founder of Gokhshtein Media David Gokhshtein(David Gokhshtein) suggested that Coinbase could lose its customers due to disrespect for PEPE, and popular digital artist Beeple posted a photo of Pepe's army taking over Coinbase.

It is likely that Coinbase will not addtrading pairs with PEPE, despite user requests. In addition, the exchange had misunderstandings with the US Securities and Exchange Commission (SEC). In March, regulators warned Coinbase that it could sue it for selling unregistered securities.