The chief legal officer of the leading crypto trading platform apologized to the community for the negative situation that has emerged about the PEPE coin, which has been on the agenda in the past hours.
Paul Gerwal, the chief legal officer of the Coinbase exchange, made a statement on his Twitter account hours ago, trying to win the hearts of all customers and meme coin investors for the unfortunate PEPE note.
We screwed up and we are sorry.
Yesterday we shared an overview of the $pepe meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.
— paulgrewal.eth (@iampaulgrewal) May 11, 2023
"We shared some confusing information about PEPE coin the other day. We made a mistake, and we apologize to the community for that."
Coinbase Discusses Mem Coins in Bulletin
The US-based giant crypto trading platform touched on the rise of meme coins in its latest newsletter, which it regularly publishes. Stating that joke-themed cryptocurrencies have been on the agenda again in the past weeks, the authorities emphasized that the PEPE coin has shown an astronomical rise of 55,000 since April.
The following comment was made about the joke-themed frog picture that brought the popular crypto currency PEPE to life:
"The frog figure, which is the symbol of the PEPE coin, is also used by racist alternative-right groups."
Following the release of the bulletin, PEPE investors stood up and urged crypto enthusiasts to boycott the Coinbase exchange.
PEPE has lost 25% in the last 24 hours.