👊 BASE under fire for memecoin crash

What happened, who messed up, and why is there so much drama with Coinbase and its Layer 2? 🧠👇

1.

Yesterday, the official Base account (Coinbase's Layer 2) posted on X the phrase “Base is for everyone.”

All good… until it wasn’t.

2.

The post came with a link to Zora, a platform where you can tokenize posts and turn them into tradable assets.

And boom: someone created a token called “Base is for everyone.”

3.

In one hour, the token surged to $18M in market cap…

and then plummeted 91% to $1.6M 😵‍💫

The reason? 3 wallets that held 47% of the total supply sold everything.

4.

🔍 What did the Base team say?

That the token was not official, and that it was created automatically by Zora because the original post came from their platform.

Basically: “It wasn’t us, it was the technology.”

5.

Even so, the market cap of the token recovered to $11M.

And here comes the real question:

Should projects like Base be more careful when posting content that can be tokenized?

6.

Final thought, buddy:

It’s fine for Coinbase to want to “experiment”…

But if you end up giving the impression that this token is official — and people lose money — the line between innovative and irresponsible becomes very thin. 👀

From $18M to $1.6M and back to $11M

Only in crypto, buddy.

Was it a communication error or just pure memecoin chaos?

I’m listening to you 👇

#Base #Coinbase #Memecoin #CryptoNews