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Coinbase yanks memecoin how-to, blames third parties after sexist token soars 130%

Coinbase yanks memecoin how-to, blames third parties after sexist token soars 130%
Snapshot
The memecoin presumably targets one of Washington’s biggest crypto critics, Massachusetts Senator Elizabeth Warren. Credit: Shutterstock / Matt Smith Photographer
By
Liam Kelly
  • Coinbase removed a landing page telling traders how to buy a memecoin on the Solana network called “elizabath whoren.”
  • A spokesperson for the exchange explained that the page was “automatically generated” depending on interest and demand for specific tokens.
  • Last year, Coinbase apologised for labelling another popular memecoin PEPE as a “hate symbol.”

Coinbase removed a post on its site that instructed users how to trade a controversial memecoin.

The crypto exchange removed a how-to post about the Solana-based memecoin called “elizabath whoren” amid criticism of the token, which trades under the ticker WHOREN.

It presumably targets one of Washington’s biggest crypto critics, Massachusetts Senator Elizabeth Warren. Warren’s office has been contacted for comment.

”These pages are automatically generated based on tokens that have been created by third parties,” a Coinbase spokesperson told DL News, adding that the exchange doesn’t endorse trading any cryptocurrencies.

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Coinbase did not comment on why it removed the page.

Today, the “elizabeth whoren” token has more than doubled in price.

The link to the now-removed page that describes “detailed instructions to make it easier for you to buy elizabeth whoren” still exists on Google. It now leads to a sign-up page for trading on Coinbase.

The coin is one of a new batch of cryptocurrencies on the Solana network that references politicians. Tokens like jeo boden (BODEN) and doland tremp (TREMP) rose triple digits this week.

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The BODEN token page on Coinbase remains active.

Pepe mishap

This isn’t Coinbase’s first memecoin snafu.

In May, the exchange’s Chief Legal Officer Paul Grewal apologised for a newsletter that described the popular memecoin PEPE as an alt-right “hate symbol.”

A Coinbase insider speaking under the condition of anonymity told DL News at that time that the “comms team gotta step up” following the Pepecoin mishap.

Memcoin mania

The latest memecoin rally has stirred up multi-year-high trading volumes, according to data from Kaiko.

Shiba Inu (SHIB) continues to lead volumes, but Dogecoin (DOGE), arguably the market’s first memecoin, is trailing close behind.

Memecoin weekly trading volume. Source: Kaiko.

Memecoin weekly trading volume. Source: Kaiko. (Kaik/Kaiko)

Memecoins on Solana have been a bounty for the network.

In March, trading activity for tokens like WIF, BONK, and WEN pushed trading volume higher than Ethereum’s.

Today, tokens like “TUZLA” and “NVEDUA,” misspellings of popular stocks Tesla and Nvidia, have seen trading volumes hit $15 million and 12.5 million, respectively, over the past 24 hours, according to DEX Screener.

Crypto market movers

  • Bitcoin plummeted 8% overnight and now trades at $67,000.
  • Ethereum has also fallen 8%.
  • Solana is trading at $167 today, having dropped 2% in the last day.

What we’re reading

Liam Kelly is DL News’ Berlin correspondent. Contact him at liam@dlnews.com.