Us Crypto Exchang Coinbase I launched Mimikoen. Or rather, a subsidiary company issued a “content currency”. Or maybe spreading the content “on the series”? Discrimination is slippery, however, although one of them determines the actions of Coinbase, the response of the encryption industry was filled – and the company’s circulating company is defensive.

The controversy started on Wednesday when the Base’s social media team published Coinbase’s Blockchain, image This reading, “Base for All”, on Zora, which is the NFT platform that was focused on Memecoins. When Base published the photo, Zora created an encrypted currency, which quickly fell to the market value of more than $ 14 million before collapsing to one million dollars. It has turned to more than $ 12 million from Friday evening, according to Dexscreener.

A base for everyone. pic.twitter.com/gq3luxo1

Base (Base) April 16, 2025

Commentators in the encryption industry claimed that the launch of the distinctive symbol was planned for “pumps and discharge”, or when the influencers-or “pump”-pump “-the price of coding only for sale-or” empty “-the distinctive symbol of profit. Coinbase said in a statement. So what exactly happened – Did Coinbase is already released? And why people are very angry? Here is a controversial evidence:

What is false?

Zora was founded in 2020, originally imagined as the NFT platform where users can convert images into non -applicable symbols that others can buy and sell. However, like a NFT market Dried upZora axis to memecoins, or cryptocurrencies that have no use and traditional on online jokes.

It became memecoins All anger In encryption, so the axis, which occurred in late February, was logical. “Zora is a social network where every post is Memecoin,” luck In a statement.

The company leads memecoins a baseTwo layer of Blockchain built on top of ETHEREUM that promoted and developed Coinbase. Therefore, Jesse Pollack, a member of the Coinbase team who heads the company’s base department, began the platform experience.

He has made a series of posts on Zora over the past six weeks that have been born in their own encrypted currencies, including a picture Granola And a picture created from artificial intelligence child. “I completely agreed to this change,” Pollac said luckReferring to the transfer of Zora from NFTS to Memecoins, “because it allows creators to control better and allow them to go faster.”

What is the “content currency?”

On Wednesday, the corporate account, not only Pollak, tried Zora and has effectively launched its Memecoin, or what Pollak called “content coin”. He said that the term refers to cryptocurrencies associated with online media, which can be explained by the price of the publication of the publication.

“Not only creators are individuals who deserve to benefit from these technologies,” he said. “They are also brands.”

The traders soon bought the “content currency” from the base. “People have just thought that it was a micoin, and if there was an official micoin launched by Coinbase, or a base, under that big brand, which everyone knows and loves, this will be the only focus.” luck.

I think there is the fact that what I did is a normal matter within a few years

But it is definitely not today and this has caused harm

I am a great defender for seeing the “icon of everything”, but you cannot change the current market facts – if you run a coin and have you …

Alon (@a1lon9) April 16, 2025

However, traders were wrong that Memecoin would be the “only focus” for Coinbase. Base put another post on Zora, which was born another encrypted currency, prompting the original code price to a decrease.

After retreating from Mimikoen disaster after lastSome felt in the Crypto community on the Internet with a feeling of Deja Vu. Cohen said: “When they launched the second currency, people felt quoted, or not containing the roughness, and this was reflected in the graph,” in reference to the “pulling the rug”, or when the fraudsters increase the encryption project only to disappear after the victims’ money was disbursed.

What now?

However, the price of the distinctive symbol recovered, and Pollack said that anger was misplaced. Coinbase did not benefit from the launch of the distinctive symbol, and it has no plans to sell its MEMECOIN holdings, which is just a new technical experience. “This is only for creativity,” he said.

Cohen, whose company has become a pump. He concluded by saying: “They did not understand the market as they should have, and what they should have done.”

*Even the haters

– Jesse.base.eth (Jessepollak) April 17, 2025

Despite the reverse reaction, Pollack is still not interested. He believes that “metal currencies” are the future of media online. On Friday, he continued to publish falsely. The latest “Memecoin” – or “content currency” – was linked to a screen piece of one of the last x Supports. “A base for all”, read. “Even the haters.”

This story was originally shown on Fortune.com

https://fortune.com/img-assets/wp-content/uploads/2024/05/JessePollack-Base-044.jpg?resize=1200,600
2025-04-19 13:00:00