This narrative just isn’t true — here are the facts: Base is and will continue growing Ethereum. We’re investing all of our earnings and resources into doing this and we have gone from zero to millions of new people onchain in 1.5 years. Base and Coinbase have and continue to hold ETH and publicly disclose our long term holdings (100K ETH+, $300M+). AFAIK this is the largest ETH holding of any public company and way bigger than any other L2 DAO or Labs company today. Base currently uses offchain custody for security and audit reasons (that’s why funds move to Coinbase). We earn and spend as much as we can in ETH. We spend ETH on L1 costs, we denominate all of our external grants in ETH, our goal is to continue to move more of Base's costs to function in ETH, and we are working hard to move more of our operations onchain. We also have offchain expenses (like salaries) that are denominated in USD, but any ETH we convert to USD to cover this is minimal compared to our holdings and the broader ETH market Let me say this again: Coinbase has accumulated $300M+ in ETH, which is more than 2x all of Base's ETH earnings over time We are 100% laser focused on long term growth, not short term price movements. We wake up every day thinking about how to bring the world onchain, and if you believe in this mission, build something to help make that happen. Spreading about FUD on the weekends isn’t it.

Last lastly, as an observer, I think the Binance listing process is a bit broken. They announce, then list 4 hours later. The notice period is necessary, but in those 4 hours, the token prices go high on DEXes, and then people sell on CEX... Not sure if there is a solution for this though. Just beware.

BASE has been sending all sequencer fees to Coinbase since launch. We don’t know if they sold, but we do know they didn’t deploy those funds on Base or keep them on-chain. The lack of transparency makes it fair to assume they sold. Not very Ethereum-aligned of them.

1/ How did @dexscreener earn +$53M in advertising revenue over the last few months? One of the biggest winners from @pumpdotfun's growth was DEX Screener, by turning into the go-to platform for meme coin traders.

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