The meme-based token Pepe has attracted significant attention from the crypto space, prompting Coinbase to issue an email to its customers describing the token as a 'hate symbol'. The email which was shared on Twitter by Crypto influencer Borovik.eth, cites the Anti-Defamation League's decision in 2016 to place the frog-themed character in its database of online hate symbols. The news sparked intense reactions from users, with many calling to delete Coinbase's accounts and move their funds to Gemini as a result. This caused the hashtag '#deleteCoinbase' to go trending, with more than 14,000 tweets in the last 2 hours alone. Meanwhile, Gemini CEO Cameron Winklevoss came to the rescue of Pepe as his exchange listed the memecoin for trading, with a more open-ended description.

The price of Pepe fell briefly, dropping 2.6% in the hours following the news. Data from CoinGecko shows the token is currently trading for a price of $0.00000184, down 10.4% in the past day. Coinbase has not yet made any indication of whether it intends to list Pepe on its exchange, however a Coinbase spokesperson stated there was nothing more to add for now. Pepe has certainly gathered significant attention from the crypto community and it remains to be seen how Coinbase handle the situation in the near future.



Other News from Today