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Coinbase has recently sparked controversy by sending out a newsletter that labeled pepe as a hate symbol. Pepe is a memecoin based on the Pepe the Frog meme, which first appeared on the internet nearly 20 years ago as a comic-strip character. Over time, it has been adopted by various online communities as a way of expressing emotions, opinions and humor.
However, some groups have also used pepe as a hate symbol by associating it with alt-right ideologies, racism and anti-Semitism. This has led to some organizations, such as the Anti-Defamation League (ADL), to classify pepe as a hate symbol in some contexts.
Coinbase cited the ADL’s view on pepe in its newsletter, which angered many pepe supporters who felt that Coinbase was unfairly demonizing their favorite meme and coin. They argued that pepe is not inherently hateful or offensive, but rather depends on how it is used and interpreted by different people. They also pointed out that the ADL itself has acknowledged that most uses of pepe are non-bigoted.
As a result, many pepe fans have started a campaign to #deletecoinbase and move their funds to other platforms that support pepe and other memecoins. They have also expressed their dissatisfaction with Coinbase on social media platforms such as Twitter, where #deletecoinbase has been trending for several hours.