Coinbase distances Base from highly criticized memecoin that dumped $15M

Crypto exchange Coinbase has distanced its blockchain network Base from a memecoin it shared that saw massive backlash after the token rapidly gained, then dropped in value by millions of dollars. Base posted to X on April 16 with an image promoting the network with its marketing tagline, “Base is for everyone,” it also shared a link to a token of the same name on Zora, a social network where users can make posts into tokens for others to speculate on. In just over an hour after it was created, the Base is for everyone token hit a peak market capitalization of $17. 1 million — then dropped by nearly 90% over the next 20 minutes to a market value of $1 source: https://cointelegraph.com/news/coinbase-distances-base-criticized-memecoin-drops-15-million?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound