Paul Grewal, chief legal officer of the encryption exchange Coinbase, tweeted that "we messed up the report on PEPE, we are sorry." He said that yesterday we shared an introduction about PEPE, but this did not accurately reflect the whole picture, and we apologize to the community. According to previous news, Twitter user borovik.eth said that he received the latest customer email from Coinbase, which stated that the frog symbol of PEPE originated from an Internet meme and was considered a symbol of right-wing hatred. This ensued a flurry of confusion on Twitter, with the hashtag "deletecoinbase" trending on Twitter in the early hours of Thursday. According to CoinMarketCap, PEPE has fallen more than 21% in the past 24 hours, and Coinbase shares have fallen more than 4%.