Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH Coinbase executive Jesse Pollak denies allegations of selling ETH, emphasizing ecosystem contribution
Coinbase executive Jesse Pollak, who is responsible for Ethereum's second-layer network Base, publicly refuted rumors that the company was selling Ethereum positions. In a series of posts on the X platform, Pollak defended Coinbase's position as a major ETH holder and highlighted the company's extensive contributions to the Ethereum ecosystem.
Background: Community Criticism and Pollak's Response
Recent criticism within the Ethereum community has focused on allegations that Coinbase is selling ETH, including sorter revenue generated through the Base network, while mainly accumulating Bitcoin assets. Pollak directly denied the claims, saying: "Coinbase is by far the largest ETH holder among non-data center organizations." According to public data, Coinbase holds approximately 115,000 to 151,000 ETH in its corporate finances, worth approximately US$300 million at current prices.
Pollak's response was not limited to financial data, he also pointed to Coinbase's positive role in the ecosystem. He mentioned the company's participation in the EIP-4844 upgrade, which significantly reduced transaction fees for Ethereum, co-development of the main stablecoin USDC, and efforts to guide millions of users to the network.
Base's decentralization milestone
In addition to responding to rumors of an ETH sell-off, Pollak also highlighted the progress of the Base network, which will be launched in 2023. The network recently achieved the first phase of decentralization, an important milestone that reduces centralized control and is aligned with Ethereum's broader decentralization goals. This development is part of Base's growth momentum, which has become one of the most active second-layer networks in terms of transaction volume.
Why it matters
This controversy highlights the tension between centralized exchanges and the decentralized concept of the crypto community. As primary custodians of digital assets, exchanges like Coinbase play a key role, and their actions are closely watched. Pollak's clarification aims to reassure the community that Coinbase remains committed to the long-term healthy development of Ethereum, not only as a holder, but also as an active contributor to technical and economic infrastructure.
For investors and developers, this news clarifies Coinbase's position and strengthens the importance of second-layer solutions like Base in expanding Ethereum. At the same time, it also highlights the ongoing dialogue between institutional participants and the broader community about the direction of the network.
Conclusion
Jesse Pollak denies allegations of selling ETH and highlights Coinbase's ecosystem efforts, which provide a clearer picture of the company's stance. Although the community remains vigilant, evidence suggests that Coinbase not only retains its ETH, but is also actively promoting the growth of the network. As the crypto market evolves, this transparency is crucial to maintaining trust and promoting healthy growth.
FAQ
Q1: How much ETH does Coinbase hold?
Coinbase holds approximately 115,000 to 151,000 ETH in corporate finances, worth approximately US$300 million.
Q2: What is EIP-4844?
EIP-4844, also known as raw data fragmentation, is an Ethereum upgrade that introduces transactions that carry blobs and significantly reduces transaction fees on Layer 2 networks.
Q3: What does the first phase of decentralization mean for Base?
The first phase of decentralization means Base reduces centralized control and moves towards an operation that requires less trust and community governance, a key goal of the second-layer network.
