X’s blue verify 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 buyers with irresistible affirmation bias.
Yesterday, Bitcoin and Ether hit 52-week lows. Coinbase’s blockchain, Base, was down for about two hours. The whole lot was going incorrect.
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 have been then marched out.
Because it seems, it is too simple to dunk on Coinbase. The corporate is the most important publicly traded cryptocurrency firm and possibly has the most important US buyer base on social media.
Coinbase goes down once more after Brian Armstrong fires workers
Yesterday’s meme traces its origins again to at the very least Could fifth.
Earlier within the day, founder Brian Armstrong reduce 700 jobs, or about 14% of the corporate’s workforce. “As we speak, entry to Coinbase’s programs has been eliminated. We all know this may occasionally appear sudden and harsh, however given our obligation to guard buyer data, that is the one accountable selection,” he stated, revoking entry on the spot earlier than most workers begin work within the morning.
Inside two days, Coinbase’s web site was fully down. The layoffs have been in all probability unrelated to that outage, however that did not 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 if you happen to spend tens of hundreds of thousands of {dollars} in restructuring prices, the obscure advantages of AI will one way or the other enhance what you are promoting.
I used to be fired from Coinbase right this moment with none warning. pic.twitter.com/n0ZoQxnBRc
— Nevergoon (@nevergoon100) June 25, 2026
Employees discount and repair suspension. Armstrong’s memo spawned a meme. “As we speak I Bought Fired from Coinbase” was an immediate hit.
The preferred 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 infinite variations as a strategy 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 unhealthy blocks occurred.
Based on the community standing incident, this consensus failure triggered the chain to stall after block 47806542. Deposits, withdrawals, and on-chain exercise have been all queued up behind the unhealthy block.
Base’s official account merely stated, “Base Mainnet is at the moment down whereas the workforce works on block era points.” He emphasised that the funds are protected.
Did Coinbase maintain 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 unhealthy block can carry down the complete community. A key sequencer additionally triggered a sequence 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 is what occurred.
An individual who repeats a joke makes use of Coinbase because the punchline.
Riley is a former Chainlink engineer. His submit about being fired from Coinbase mimicked the now-standard layoff confessional, with the lack of Slack entry and a plaintive word of regret.
Riley is a joker on social media and has posted pretend confessions about being fired previously.
A group word 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 the moment solely lists Brookwell and has no prior positions at Coinbase.” The group word added that his submit echoes earlier false termination claims about an organization referred to as Delve.
His Delve submit garnered 3.8 million views and was a satirical jab associated to the Delve compliance scandal. His Coinbase remix saved its basic format.
Regardless of clearly pretend content material and a pending group word, Riley’s submit remained public till early right this moment.
