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Following
ETH Coinbase founder Jesse Pollack responded to criticism of Coinbase's sale of Ethereum (ETH), saying the company's contribution to the Ethereum ecosystem has been grossly ignored.
Pollack said on social media that Coinbase is by far one of the largest institutional ETH holders, excluding entities known as "Digital Asset Depository Companies"(DATs). He also pointed out that through the Base network, Coinbase has become one of Ethereum's largest customers and has made important contributions to EVM (Ethereum Virtual Machine) and many developments in the Ethereum roadmap.
Pollack emphasized that Coinbase has brought millions of users to the Ethereum ecosystem through the Base platform, adding: "I don't understand why Coinbase would be attacked for selling ETH." The Base founder also revealed that Coinbase has held approximately 150,000 ETH units over the years in multiple ups and downs in the market.
These remarks were made after a post was posted by chaskin.eth, a member of the Ethereum Foundation. Chaskin.eth believes that many of the community's criticisms of Coinbase are actually in the wrong direction. He pointed out that Coinbase and its associated teams have played an important role in multiple projects, including Base itself, USDC, cbBTC, EIP-4844, ERC-4337-based smart wallets, and x402, which are of great significance to the Ethereum ecosystem.
At the same time, Pollack called on the Ethereum community not to blindly criticize the agreement and the companies in its ecosystem. He believes that being hostile to customers will damage the ecology in the long run. Pollack said he loved Ethereum and was satisfied with past collaborations, but the current approach had become "ridiculous."
In Pollack's view, if the Ethereum ecosystem is to grow and grow, it needs to support companies that use protocols and develop products based on them, rather than crowd them out. He also pointed out that continued criticism of Coinbase's sale of ETH could lead to large institutional users alienating the Ethereum community.
* This article does not constitute investment advice.
