Coinbase in hot water over $12 million ‘content coin’—but exec tells haters to lean in

U.S. crypto exchange Coinbase launched a memecoin. Or rather, its subsidiary issued a “content coin.” Or maybe it just posted “on-chain” content? The distinctions are slippery but, however one defines Coinbase's actions, the response from the crypto industry has been withering—and put the publicly traded company on the defensive.

The controversy began on Wednesday when the social media team for Base, Coinbase’s blockchain, posted a picture that read, “Base is for everyone,” on Zora, an NFT platform that has pivoted to memecoins.