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FollowingBase founder Jesse Pollak handed over leadership of the Base application to Jordan Fish (better known as Cobie). He previously admitted that the network's efforts in online social products failed to achieve the expected popularity.
Pollack will continue to be responsible for the Base blockchain, while consumer applications will return to direct control of Coinbase. Cobie will lead the application team and strive to make it a broader portal for on-chain transactions, payments and applications.
Pollack wrote in his leadership transition announcement: "I handed over the Base application to Cobie so I could focus entirely on Base itself." He described the first quarter of 2026 as "a punch" and said that while the team focused on social products, Base had fallen behind in other, more important areas.
Cobie joined after Coinbase acquired Echo in October 2025 for approximately $375 million. Echo built on-chain fundraising tools for private community sales and public token offerings, which gave Fish direct experience in capital formation, token distribution, and crypto-native product development.
Pollack acknowledges that social strategies have failed to capture the market.
Base has spent most of 2025 positioning its apps as on-chain Social networks built around Farcaster, Zora, mini apps and creator tokens. The product combines social information streaming with transactions, chats, payments and tokenized posts.
Pollack said some of these experiments had "completely disintegrated", leaving Base lagging behind other competitive chains in terms of transaction infrastructure and financial applications. Farcaster changed ownership, Zora shifted its focus to Solana, and creator tokens failed to establish a sustainable consumer market.
This statement marks a significant reversal from the original Base application strategy. The strategy once viewed tokenized content and creator revenue as the path to mainstream chain adoption. Under Cobie's leadership, the app will remain an on-chain product, but Pollack said it should serve users outside of Base, not just as a distribution layer for the network's social ecosystem.
Base refocuses on global finance
Pollack will focus on building Base as a settlement infrastructure for transactions, stablecoin payments and autonomous software.
He wrote: "Trading means all assets" and listed tokenized stocks, memocoins, and application tokens. Payments will mainly focus on stablecoins for consumers and businesses, while AI agents use cryptocurrencies as programmable currencies to automate economic activities.
Base has extended its AI proxy payment track with x402, allowing software agents to pay for data, APIs and services in stablecoins. The network's Base MCP integration also connects agents to transactions, lending, token issuance, commerce and on-chain payments.
Pollack said Base will now be committed to becoming the "blockchain of global finance" and the settlement layer of the world's currency for the next century.
