Pepe the Frog Controversy: Coinbase Sparks Outrage Over Hate Symbol Claims

The Incident That Set Off a Twitter Storm

Recently, Coinbase stepped into a controversy hotter than a jalapeño at a chili cook-off. An email that they sent to customers labeled the popular Pepe meme as a “hate symbol” co-opted by alt-right groups. Fans of the green, meme-making amphibian erupted in anger, sparking hashtags and account deletions faster than you can say, “To the moon!”

Crypto Influencer Weighs In

Enter Borovik.eth, a crypto influencer with more followers than most people have socks, who shared a screenshot of the email with his 96,000 fans. In it, the email cited a 2016 ruling from the Anti-Defamation League as the catalyst for its allegations against the frog. The reactions were immediate and emotional.

Calls for Action

As outrage brewed, users rallied together, vowing to delete their Coinbase accounts. Pseudonymous Twitter user and solidity developer Kenobi didn’t hold back, tweeting, “#PEPE IS NOT A SYMBOL OF HATE” and declaring his intentions to switch to Gemini, another exchange. The hashtag “#deletecoinbase” surged on Twitter, garnering over 14,000 tweets in just a few hours.

The Ripple Effect

Meanwhile, as members of the Crypto Twitter community pleaded for Coinbase to reconsider their stance, the response from the exchange was about as thrilling as watching paint dry: they had “nothing further to add.” Meanwhile, Gemini decided to capitalize on the situation by listing the memecoin on May 9, opting for a much friendlier description of the token. Apparently, they were listening to the buzz as closely as a kid in a candy shop.

The Market Reaction and Future Implications

Following the news, the price of Pepe took a dive, plummeting 10.4% in 24 hours—a sad fate for any memecoin. The community is watching closely to see whether Coinbase will ever embrace the Pepe token or continue with the cold shoulder. In an ever-evolving crypto landscape, one can’t help but wonder if this meme will prove resilient, or if it has met its metaphorical brick wall.

Conclusion: A Frog With a Fight

As this tale of digital frogs unfolds, it remains to be seen how Coinbase’s misstep will impact the memecoin’s future and the saga of Pepe will continue. Will the community rally back, or has this incident permanently dampened the green dreams of Pepe holders? Only time and tweets will tell!