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BTC 
ETH Coinbase renamed self-managed app Coinbase Wallet
About 14 months after rebranding it to Base App, Coinbase decided to revert its self-managed app to the name "Coinbase Wallet." The move marks the company's admission that its bets on crypto Social networks have failed to gain market attention and shift its product focus to multi-chain transactions.
Coinbase had hoped to attract millions of its retail users to a "universal app," but the company is now focusing more on businesses such as perpetual contracts, predictive markets and tokenized stocks.
Confirmation and Background of the Renaming
The app's official X account posted the news that "Base App has now been renamed Coinbase Wallet", officially confirming the return.
Why Give Up Social Strategies
The Base App debuted in July 2025, when Coinbase described it as a Farcaster-driven social stream with functions such as encrypted chat with AI agents, mini apps, payments via USDC, and intra-stream transactions. These features converged into a product known as the "all-in-one app," which was seen at the time as a potential transformative agent and described as the starting point for a new type of Social networks.
However, as early as the first quarter of 2026, management began to reassess its potential. Coinbase CEO Brian Armstrong said in March that the social experiment was "not completely successful," adding that the app is transitioning into the transactional space and becoming a self-managed version of Coinbase's main app.
In July, Base founder Jesse Pollak handed over day-to-day leadership to Jordan "Cobie" Fish and said in a later podcast that some of the app's social and creator features fell short of expectations and that as the product expands into a trading platform, it will become "less Base-centric." Pollak said Base is growing despite the rebranding.
Functions of the renamed wallet
Ryan Kass, product leader of Coinbase Wallet, told The Block: "The name Coinbase Wallet better reflects the product's role as a self-managed portal to Coinbase's 'all-powerful exchange'." Kass added that the Base App was once a "perceptive experiment" while the wallet "gave users access to all financial resources on the chain."
Currently, the app supports more than 10 networks, including the new Robinhood Chain and Monad, as well as the original Base, Solana, Bitcoin, Ethereum, BNB Chain, Optimism, Arbitrum, Polygon and Avalanche.
On the trading side, it offers perpetual contracts, forecast markets, tokenized stocks and long-tail assets backed by Hyperliquid. Kass said users can focus on other traders to "get extra revenue" because every trade is settled on-chain.
Positioning and Restrictions of Base
According to Coinbase, the wallet is a "test kitchen" for products and assets that may not appear on its centralized exchange, with Hyperliquid-backed perpetual contracts as the first example. The company promotes its "no KYC, no waiting, no borders," claiming that users can download apps and start trading in minutes, but the site also notes that certain features are still geographically limited.
Kass said: "Base is still the core of Coinbase Wallet, and you'll see Base assets naturally appearing in apps as the trend goes." He added that once minted on the supported chain, assets are displayed by default, while wallets flag and hide fraudulent tokens, and new asset classes such as forecasts and tokenized stocks first undergo so-called "rigorous product and compliance review."
