Pepe Meme Controversy Triggers Coinbase Boycott, Florida’s CBDC Restrictions, and Scam Alerts

Mistaken meme controversy, public apology, CBDC restrictions in Florida, anime avatar NFT memecoin surge, Bitcoin Ordinals debate, scam-baiting fake crypto environment, market fluctuations, Pepe memecoin scam alerts. Scene: outraged crypto community, contract signing, vibrant NFT, exuberant market, a watchful eye on scams. Artistic style: futuristic, intense, cautionary. Mood: vigilant, dynamic, intense.

An email controversy involving Coinbase and the Pepe the Frog meme has caused outrage in the crypto community. The platform mistakenly referred to the popular meme as a “hate symbol” co-opted by alt-right groups, leading to the hashtag “#deletecoinbase” to trend on Twitter. In response, Paul Grewal, the chief legal officer of Coinbase, publicly apologized, acknowledging their mistake.

In recent CBDC news, Florida Governor Ron DeSantis has signed a bill restricting the use of central bank digital currencies in the state. The new law, effective on July 1, prohibits the use of a United States federal CBDC under Florida’s Uniform Commercial Code (UCC) and bans CBDCs issued by foreign governments. The decision comes after the White House studied the potential effects of the new financial technology.

Following a tweet by Elon Musk, the Milady (LADYS) memecoin surged by over 5,250%. Based on the anime avatar NFT collection of the same name, LADYS was created with no formal team, roadmap, intrinsic value or expectation of returns, but has still managed to gain significant attention in the space.

While Bitcoin Ordinals continue to inspire debate among the Bitcoin community, both supporters and opposers have raised concerns. On one hand, slow speeds and rising transaction costs are cited as potential downsides to the technology. However, advocates maintain that the ordinals enhance opportunities, decentralization, and freedom of expression with the ability to add text, images, and code on a satoshi – the smallest unit of Bitcoin.

Kraken, the crypto exchange, has developed a unique method for flagging malicious wallets: creating a fake crypto environment to “scam bait” bad actors. Designed with the help of a popular streamer, Kitboga, the custom environment is used to track and frustrate scammers.

The market is constantly in flux, as Bitcoin (BTC) is currently valued at $26,707, Ether (ETH) at $1,803, and XRP at $0.43. At the end of the week, the top three altcoin gainers are Kava (KAVA), Bitcoin SV (BSV), and PAX Gold (PAXG), while the largest losers are Pepe (PEPE), PancakeSwap (CAKE), and WOO Network (WOO).

Lastly, caution is required in the soaring Pepe memecoin market, with at least 10 scams having surfaced in recent days. Scam tokens and fake claim sites are becoming increasingly common, so remaining vigilant is more important than ever.

Source: Cointelegraph

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