Jesse Pollak defends Coinbase from 'badly misplaced' ETH sales criticisms

Jesse Pollak, VP of Engineering at Coinbase, was active on X, fighting accusations that Coinbase has been dumping Ethereum. 

The Base creator has been telling those who care to hear that the exchange is the largest holder of Ethereum in the world.

How a “badly misplaced” comment started the argument 

The argument erupted when chaskin.eth (@jchaskin22) said that the resentment of the Ethereum Twitter community towards Coinbase is “badly misplaced,” and likened the anger to when a business turns on its biggest customers because the customer chose not to buy so much of its stock. 

Pollak agreed with the sentiments, saying it “blows my mind” to see Coinbase getting attacked because of ETH sales.  

This didn’t sit well with everyone. cyp.eth (@0xcyp) responded to venture investor Nick Tomaino’s adulation of Coinbase as “values aligned with Ethereum,” by saying the company’s values include “constantly selling ETH from Base execution fees to USD and BTC.” 

That response encapsulates the whole annoyance with the company: the folks in charge of Base earn in ether, then allegedly sell the proceeds into other assets.

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