Coinbase executive Jesse Pollak denies ETH sale claims

Jesse Pollak, a Coinbase executive, denied claims that the company has been selling Ethereum. He emphasized Coinbase's contributions to the Ethereum ecosystem amidst recent criticism regarding alleged ETH sales and a focus on accumulating Bitcoin. Pollak stated that Coinbase is the largest holder of ETH among non-DAT institutions, with corporate treasury assets of approximately 115000 to 151000 ETH, valued at around 300 million dollars. He highlighted Coinbase's role in the EIP-4844 upgrade, which reduced transaction fees, its co-development of USDC, and the onboarding of millions of users. Additionally, Pollak noted that Base, launched in 2023, has achieved Stage 1 decentralization, which reduces centralized control and supports its growth.

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