Ethereum Base Creator Jesse Pollak Joins Coinbase Exec Team

Journalist

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

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Last updated:

October 1, 2024 01:52 EDT

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Jesse Pollak, the creator of Ethereum’s Layer 2 blockchain Base, has announced his new role as part of the Coinbase executive team, marking progress in his career.

In addition to leading the Base team, Pollak will now also take on the leadership of Coinbase Wallet, a core part of the company’s mission to make blockchain technology more accessible to a wider group of people.

In an announcement on X (formerly Twitter), Pollak shared, “Hey everyone – some news: in addition to leading the Base team, I’ll be stepping up to lead Coinbase Wallet and joining the Coinbase exec team. I’m excited to take on this new mandate and to accelerate our mission of bringing a billion people and a million builders onchain.”

Pollak’s dual role leading both Base and Coinbase Wallet is strategic. He explained that both Base and Coinbase Wallet share the same overarching goal: to simplify the process of bringing people on-chain and connecting them to the wide array of products being built across the decentralized economy. “Now, we’ll be able to work together more closely to make this happen,” Pollak noted.

Despite this new leadership role, Pollak reassured the community that Base will continue to uphold its foundational values of decentralization and openness.

“Base will continue to uphold its core values of being for everyone, a bridge, not an island, and decentralized and open source,” he said, emphasizing that Coinbase Wallet will also maintain its mission of working across the entire on-chain economy.

By embracing Base’s principles, Pollak said he aims to strengthen the synergy between both teams, ensuring that the wallet team and Base can collaborate effectively toward a shared mission.

Coinbase Launches Asset Recovery Service for Base

Recently Coinbase launched an asset recovery service for Base. Back in December 2023, Coinbase introduced an ERC-20 self-service asset recovery tool, designed to address a common issue in the crypto space: the recovery of unsupported tokens.

The new tool allows users to recover nearly 4,000 ERC-20 tokens mistakenly sent to Coinbase addresses, a solution that enhances user confidence and security.

With Pollak’s expanded role, Coinbase appears poised to push forward in its mission to make decentralized finance (DeFi) and blockchain technology more accessible, as the platform continues to refine its services and bring more users into the on-chain economy.

Coinbase Launches cbBTC Token

Recently cryptocurrency exchange Coinbase launched “Coinbase Wrapped Bitcoin” (cbBTC) – a new ERC-20 token backed 1:1 by Bitcoin.

In an announcement, the exchange said the token launch is aiming at improving the utility of Bitcoin within DeFi. It will allow users to use their Bitcoin across decentralized applications (dApps) on Ethereum and Coinbase’s Layer-2 blockchain known as Base.