Meme Coins Gain Publicity
Posted on 05/11/2023
As some cryptocurrencies such as Bitcoin (BTC) have become part of the investment establishment, new coins worth a fraction of a penny are raking in gains on a percentage basis. Elon Musk has caused the price of “milady” coin to rise 12,000% to a market cap of US$ 139 million after he posted a picture of it on his Twitter account. The milady meme coin has a total supply of 888 trillion. Other memecoins, like pepe and floki, have also risen.
This is the same company notorious for listing absolute legally questionable tokens all of 2020 to 2022.
PEPE
In May 2023, Coinbase’s chief legal officer, Paul Grewal apologized for a company newsletter on the memecoin frenzy suggesting that the Pepe the Frog meme, on which red-hot PEPE token is based, has been used in racist ways on the internet.
“We screwed up and we are sorry,” tweeted Grewal late Thursday morning (May 11, 2023). “Yesterday we shared an overview of the PEPE meme coin to provide a fact-based picture of a trending topic,” he continued. “This did not provide the whole picture of the history of the meme and we apologize to the community.”
The apology came after a #deletecoinbase hashtag trending on Twitter.
