Coinbase's Chief Legal Officer: 'We Screwed Up'
Coinbase Chief Legal Officier, Paul Grewal apologized and admitted the platform "screwed up" when sending an email to its mailing list about the $PEPE memcoin and the history of the Pepe meme.
🧐 Wait, What?
Last night an email was sent to a Coinbase mailing list discussing the rise of the $PEPE memecoin. In it, Coinbase made note of the history of the Pepe meme and its use in alt-right circles. The email was met with considerable backlash from $PEPE holders as it did not represent the comprehensive history or foundations of the Pepe meme.
🎤 Platform Prose
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.Paul Grewal
❗️Why It Matters
Many had hoped that $PEPE, like $DOGE and $SHIBA before it, would gain a listing at Coinbase and other notable exchanges. Coinbase's intiial email seemed to suggest that there was not a good chance of that happening because of the inappropriate use of the meme by bad actors. However, Grewal's apology may indicate the platform is not against a listing for this reason - though there is no evidence that a listing will ever come. $PEPE was previously listed on Binance and can now be traded on Gemini as well.