Base creator Jesse Pollak defends Coinbase's ETH holdings and contributions to Ethereum, arguing criticism of the exchange is misplaced.
Regulation & Gov ·
Jesse Pollak, creator of Base, contested recent criticism directed at Coinbase over ETH sales, contending that the exchange holds Ether in a manner that places it among the largest non-DAT holders "by an order of magnitude." Pollak characterized Coinbase as one of Ethereum's biggest customers through Base and highlighted the company's substantial contributions to EVM and Ethereum development.
Pollak's remarks built on a prior statement from Ethereum Foundation member chaskin eth, who argued that community anger toward Coinbase is "badly misplaced" given its track record. The cited contributions span multiple infrastructure and protocol initiatives, including Base, USDC, cbBTC, support for EIP-4844, ERC-4337 smart wallets, and x402.
Pollak framed the broader dispute as a matter of relationship maintenance, asserting that antagonizing major stakeholders risks eroding their commitment to the ecosystem. The exchange between Pollak and community members underscores an ongoing tension regarding how institutional participation in Ethereum development should be evaluated against concerns about asset concentration or market behavior.