Coinbase, the popular American cryptocurrency exchange and global digital asset broker, recently apologized for its newsletter that incorrectly labeled the meme Pepe the Frog as a “hate symbol”. Chief Legal Officer Paul Grewal issued an apology over Twitter shortly after the #deletecoinbase hashtag began trending across the platform, with countless customers voicing their intent to delete the app and close their respective accounts. The tweet gained over 200,000 views, and was met with positive responses from the community, thanking Coinbase for their apology.
In the tweet, Grewal expressed his regret for providing an incomplete overview of the PEPE meme coin, and promised to do better in the future. Following this, a DeFi entrepreneur, Tyler Scott Ward, praised Coinbase for their humble admittance of fault in the matter and for avoiding any form of virtue signalling. Several other users thanked Coinbase for their apology, but also requested the meme to be officially listed on the exchange. This request was granted by Binance, the leading crypto exchange, who officially listed the token last Friday, which caused record prices in the PEPE market.
In light of this incident, Coinbase has promised to take much greater care in its approach to contentious topics, in order to maintain their reputation as a reliable and trustworthy exchange. They have set a great example, proving that even the biggest players can own up to their mistakes, and simultaneously mend those relationships they may have damaged in the process. As the problem appeared to be due to a lack of adequate understanding, Coinbase should also do more to ensure their staff are well-informed in order to avoid any similar issues from arising in the future.
Overall, Coinbase has put it down to a lapse of judgement and offered a sincere apology for the misinformation contained in the newsletter. This hopefully has provided for a good opportunity for both Coinbase, and the cryptocurrency industry as a whole, to learn from the incident, and move forward in the most responsible and respectful way possible.
Connor Jimenez
- 2023-05-11
Coinbase Apologizes for Misinfomation Concernign PEPE the Frog
Coinbase recently apologized for labeling PEPE the Frog as a hate symbol. Binance then proceeded to list the token, leading to record high prices. Coinbase has learned from this incident, and has promised to be more careful in the future.
