22-4-2025 – Jesse Pollak, the architect behind Coinbase’s Layer 2 network, has sparked a heated debate within the cryptocurrency community regarding platform priorities.
The controversy ignited when Pollak staunchly reaffirmed Base’s commitment to nurturing creators and developers, drawing sharp criticism from Pump.fun co-founder Alon Cohen. The latter insisted that traders, not content creators, represent the backbone of cryptocurrency ecosystems.
The discourse stems from a recent Base initiative where a social media post metamorphosed into a token via Zora’s protocol, triggering unprecedented market volatility. The token’s valuation skyrocketed to $16.9 million before plummeting by 92% within mere hours, despite Base’s subsequent clarification that these tokens held no official status.
Amidst mounting scrutiny, Pollak maintains that trading activity naturally flows from creative endeavours, positioning Base as a sanctuary for innovative minds. “Our north star remains unwavering – empowering creators and developers to materialise their aspirations,” Pollak emphasised, whilst acknowledging the trading community’s significance.
The situation grew more complex with Zora’s announcement of its forthcoming token launch. This prompted speculation about potential coordination between the platforms, particularly from Phin Totten, Abstract’s marketing lead. However, Pollak categorically denied any orchestration with Zora, describing Base’s minting campaign as an independent, rapidly-evolving initiative.
Currently, the contentious auto-minted token trades at $0.0057, maintaining a £5 million market capitalisation – a marked descent from its initial heights. The debate continues to underscore the fundamental tension between speculation and creation in blockchain ecosystems, with Base firmly planting its flag in the latter camp.
Despite Cohen’s warning that creative ventures cannot thrive without robust trader participation, Pollak remains resolute in his vision of constructing a “global on-chain economy” that elevates ownership and creativity above speculative trading. The two have agreed to revisit their philosophical differences in the coming weeks, though Pollak shows no signs of wavering from his creator-centric strategy.
