Topline
Coinbase Chief Legal Officer Paul Grewal apologized to investors in the obscure novelty cryptocurrency Pepecoin on Thursday, after the company drew outrage and boycott threats for documenting how the coin’s namesake—the cartoon meme Pepe the Frog—has been used as an alt-right hate symbol.
Key Facts
On Wednesday, a Coinbase newsletter discussed a recent surge of interest in “memecoins” like Pepecoin, and pointed out that the Pepe meme has been co-opted as a hate symbol by alt-right groups, citing a classification made by the Anti-Defamation League.
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