Coinbase warns of PEPE alt-right ties, token holders declare war
Investors in Pepecoin (PEPE), the meme Crypto currency du jour, have started a Twitter war against Crypto exchange Coinbase after its newsletter warned of its volatility and associations with the alt-right. On Wednesday, Coinbase pointed to the surge in interest in memecoins — not seen since the cryptocurrency bull run of 2017 — in its weekly newsletter. It warned that these often volatile projects are bad long-term investments and can even be a rug-pull. What’s more, the surge in trading has contributed to exorbitant gas fees on Ethereum. “PEPE, which was issued around three weeks ago with a comically huge supply of 420 trillion tokens, has been leading the memecoin activity,” read Coinbase Bytes . “The token is based on the Pepe the Frog meme, which first surfaced on the internet nearly 20 years ago as a comic-strip character. Over time it has been co-opted as a hate symbol by alt-right groups , according to the Anti-Defamation League (ADL).” Pepe the Frog was cr...