Coinbase’s Base Promotion Sparks Meme Coin Frenzy, Leading to Trader Losses

Coinbase’s Base platform recently promoted an unofficial meme coin, causing market volatility and substantial losses for traders. The promotion, which lacked official backing from the company, led to a surge in trading activity and subsequent price fluctuations, ultimately hurting investors. This incident highlights the inherent risks associated with speculative investments in meme coins without proper guidance or transparency.