Coinbase Inc COIN, one of the largest cryptocurrency exchanges, is currently hosting a mysterious countdown timer on Twitter, leaving the crypto community wondering what lies ahead.
What Happened: The timer, first noticed on Wednesday with a tweet with the number ‘2’, has triggered a range of speculations among crypto enthusiasts.
David Gokhshtein, the founder of Gokhshtein Media, has echoed the belief that the Coinbase countdown timer could have something to do with Pepe Coin PEPE/USD, stating “Has to be PEPE related.”
Many others like him, have echoed the same belief.
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Why It Matters: In the past, Coinbase found itself in hot water with PEPE supporters after labeling the meme a “hate symbol,” leading to speculation that a listing of it by the exchange seems unlikely. PEPE has already been incorporated as a listed token on Binance.
This comes as Coinbase Global’s bid to obtain clear regulatory guidelines from the Securities and Exchange Commission (SEC) has hit a roadblock. The exchange had previously petitioned a federal court in April to compel the agency to establish clear guidelines for crypto exchanges and companies.
The SEC has now responded by saying that Coinbase is not legally eligible to seek mandamus, which is a court ruling that forces a government agency to perform its duties.
Price Action: At the time of writing, PEPE was trading at $0.000001524, down 7.05% in the last 24 hours, according to Benzinga Pro.
Read More: Bitcoin, Ethereum, Dogecoin Trade Mixed On Biden’s Promise On Debt-Ceiling: On-Chain Analysis Hints King Crypto In Early Bull Phase
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