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‘We screwed up’: Coinbase chief legal officer apologizes after Pepe newsletter controversy

Coinbase’s chief legal officer apologized on Thursday for mentioning in a newsletter that some groups consider the Pepe the Frog meme a hate symbol for far right groups. 

“We screwed up and we are sorry,” Coinbase Chief Legal Officer Paul Grewal said in a tweet. “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.” 

The drama was sparked by the Pepe memecoin’s newfound popularity. The crypto token, styled after the Pepe the Frog cartoon meme, climbed past $1 billion in market cap for the first time this month.

Coinbase published a newsletter noting the history of the meme. The Anti-Defamation League lists Pepe the Frog as a “general hate symbol” on its website.

Not long after, the hashtag #DELETECOINBASE began trending on Twitter. The mention of Pepe as a hate symbol appeared to have been deleted from the Coinbase newsletter.

Coinbase did not immediately respond to a request for comment. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Stephanie Murray

Polychain Snubs Lucrative Crypto Arbitrage, Prepares to Trade $6M of ROOK Token on Uniswap

Crypto hedge fund Polychain motioned to sell up to $6 million of $ROOK tokens via Uniswap, upending the calculus behind a savvy DeFi trade.

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Author: Danny Nelson

‘Smart Money’ Traders Reduce Pepecoin Holdings by $3M as Meme Coin Mania Cools

PEPE token has dropped 63% since last week, when it reached a $1.8 billion market capitalization after a staggering rally.

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Author: Krisztian Sandor

Meet ‘Dencun.’ Ethereum Developers Are Already Planning Next Hard Fork

The next major upgrade for the blockchain will include “proto-danksharding,” though developers are still deciding what else to include in the hard fork.

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Author: Margaux Nijkerk

What’s the Reality of Crypto in Crime?

The DOJ’s Eun Young Choi said the agency is constantly finding crypto connections in its criminal investigations. But how deep does the problem go and how much should we blame the blockchain?

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Author: Daniel Kuhn

The White House’s Bitcoin Mining Tax Undermines Itself

Imposing a levy on mining in the U.S. will send the industry overseas, increasing emissions while depriving the grid of a useful form of “demand response,” says Nic Carter.

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Author: Nic Carter

Bitcoin Mining Earnings Wrap: Marathon Shares Underperform After New SEC Subpoena

Thursday’s reported first-quarter earnings from miners were a mixed bag.

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Author: Eliza Gkritsi

IRS, Chainalysis and Ukraine Targeting Russian Crypto Sanctions Evaders Jointly

The U.S. Internal Revenue Service and crypto investigations company Chainalysis are working with Ukraine to target Russian oligarchs using crypto to evade sanctions.

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Author: Amitoj Singh

Coinbase’s SEC Complaint Draws Allies Depicting U.S. Regulator as Crypto Bully

Crypto insiders are tying themselves to Coinbase (COIN) as the company seeks to blow up the U.S. Securities and Exchange Commission’s (SEC) “come in and register” crusade aimed at the digital assets sector.

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Author: Jesse Hamilton

Smart-Contract Registry Cookbook Raises $2M to Create Web3 Developer Support Tools

The company will use the money to educate Web3 developers and supply them with tools to streamline their work.

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Author: Elizabeth Napolitano


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