Jesse Pollak, creator of Base, Coinbase’s Ethereum Layer 2 network, acknowledged on July 15 that his strategy centered on onchain social applications and creator coins had failed, describing it as having « disintegrated completely. » He handed leadership of the consumer app to Jordan Fish, known as Cobie, the former founder of Echo, which Coinbase acquired for $375 million in 2025. Base, currently the largest Ethereum Layer 2 with approximately $4.54 billion in total value locked, is now refocusing on three pillars: trading, payments, and AI agents. The network processed nearly $886 million in DEX volume in 24 hours and $25.6 billion over the preceding 30 days. Pollak expressed confidence that Base can outpace both Robinhood and Stripe in their respective domains.
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