Base members have refuted rumours that its sorter, Coinbase, has been selling Ethereum. Base member Kabir.base.eth said on the X platform on Sunday: "Coinbase has accumulated more than $300 million in Ethereum, which is more than double all of Base's Ethereum revenue since its inception. Base and Coinbase have held Ethereum and publicly disclosed our long-term holdings (over 100,000 ETH, worth more than $300 million)."
Kabir added that Base uses off-chain escrow for security and audit reasons (which is why funds are transferred to Coinbase), emphasizing that as an Ethereum Layer2 solution, Base earns and spends as much as possible in Ethereum for Layer 1 costs and support.
Base team members refute allegations that its sorter Coinbase has been selling ETH
2025-02-10 10:40:30
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