X's blue examine account falsely claimed to be a lately fired Coinbase product supervisor and obtained practically 200,000 views inside hours. This meme yesterday match completely into the pattern of crypto traders with irresistible affirmation bias.
Yesterday, Bitcoin and Ether hit 52-week lows. Coinbase's blockchain, Base, was down for about two hours. Every part was going improper.
The account jokingly defined that Coinbase fired Ravi Riley as “non-technical PM of the Base Sequencer workforce and my first PR was built-in into manufacturing at midday.” A number of trackers confirmed the roughly two-hour outage, though it was not brought on by Riley, who was not an worker of Coinbase.
The memetic implication was that the recruits crashed into the bottom and had been then marched out.
Because it seems, it's too simple to dunk on Coinbase. The corporate is the biggest publicly traded cryptocurrency firm and possibly has the biggest US buyer base on social media.
Coinbase goes down once more after Brian Armstrong fires staff
Yesterday's meme traces its origins again to a minimum of Could fifth.
Earlier within the day, founder Brian Armstrong lower 700 jobs, or about 14% of the corporate's workforce. “In the present day, entry to Coinbase's techniques has been eliminated. We all know this will likely appear sudden and harsh, however given our obligation to guard buyer data, that is the one accountable alternative,” he stated, revoking entry on the spot earlier than most staff begin work within the morning.
Inside two days, Coinbase's web site was fully down. The layoffs had been most likely unrelated to that outage, however that didn't matter to many critics on social media.
Armstrong tried to make some constructive sense out of the layoffs, framing them as an AI-driven restructuring. Even for those who spend tens of thousands and thousands of {dollars} in restructuring prices, the obscure advantages of AI will by some means enhance your online business.
I used to be fired from Coinbase at the moment with none warning. pic.twitter.com/n0ZoQxnBRc
— Nevergoon (@nevergoon100) June 25, 2026
Employees discount and repair suspension. Armstrong's memo spawned a meme. “In the present day I Received Fired from Coinbase” was an on the spot hit.
The most well-liked variants claimed absurd work efficiency, particularly Coinbase operations that crypto merchants dislike, reminiscent of issuing 1099s, freezing accounts, implementing 4H charts, and caching web sites.
As with different memes on social media, individuals are remaking the meme in countless variations as a method to poke enjoyable at Coinbase's shortcomings, giving Coinbase the punchline of layoffs that actually by no means occurred.
Base outage is over, however Coinbase memes proceed
Yesterday, Base resumed regular block manufacturing inside roughly two hours. Block era stopped at 16:03 UTC after a sequence of dangerous blocks occurred.
In line with the community standing incident, this consensus failure induced the chain to stall after block 47806542. Deposits, withdrawals, and on-chain exercise had been all queued up behind the dangerous block.
Base's official account merely stated, “Base Mainnet is at present down whereas the workforce works on block era points.” He emphasised that the funds are secure.
Did Coinbase preserve its first Bitcoin mortgage buyer a secret?
The timing was difficult. This stall occurred a number of hours earlier than Base's scheduled Beryl improve for a similar day at 18:00 UTC.
In any case, the incident revived acquainted criticisms. As a result of Base depends on a sequencer operated by Coinbase, one dangerous block can carry down the whole community. A key sequencer additionally induced a series outage in August 2025, the final main community outage earlier than yesterday.
In different phrases, it was simple to lazily blame Coinbase for the outage. That's what occurred.
An individual who repeats a joke makes use of Coinbase because the punchline.
Riley is a former Chainlink engineer. His publish about being fired from Coinbase mimicked the now-standard layoff confessional, with the lack of Slack entry and a plaintive notice of regret.
Riley is a joker on social media and has posted pretend confessions about being fired up to now.
A group notice on X denied Riley's claims. “Ravi Riley was by no means employed by Coinbase. As confirmed by X's bio and LinkedIn profile, he at present solely lists Brookwell and has no prior positions at Coinbase.” The group notice added that his publish echoes earlier false termination claims about an organization known as Delve.
His Delve publish garnered 3.8 million views and was a satirical jab associated to the Delve compliance scandal. His Coinbase remix saved its normal format.
Regardless of clearly pretend content material and a pending group notice, Riley's publish remained public till early at the moment.
