Rune

whenever you think of trusting base, remember this thread jesse pollak’s coins the head of base used the official coinbase X account to promote “base is for everyone” on zora. it spiked to $17M mcap in an hour. crashed 90% to $1.9M within 20 minutes. people thought it was an official base token. jesse said it was “an experiment” and that he “personally approved the post” months later he launched his own JESSE token through the base app. called it a “creator coin, not a memecoin.” two snipers extracted $1.3M from it within seconds of launch. the token peaked at $25M and dumped. $50M in volume flowed through it and the regular users who trusted the head of base got sniped by bots while he collected LP fees he then used those LP fees to buy other creator coins on zora. so the fees generated from his community getting sniped went to propping up more creator coins that also dumped him and brian promoted tokens linked to balaji srinivasan and other figures. all crashed. one critic pointed out “the same users kept eating the downside on team-promoted tokens.” nobody at base adjusted he endorsed a soulja boy token, a person zachxbt publicly documented running 73+ token promotions, 16 NFT collections, most of them rugs or abandoned, earning $730K+ from paid crypto scams. jesse invested $1,500 and promoted it publicly. zachxbt’s report was from 2023. it was public. the head of base either didn’t bother to check or didn’t care he shared a GIF playing on “base is for everyone” that rotated through the phrases “base is for pimping” and “base is for squirting.” had to publicly apologize. the guy running a coinbase-backed chain, a publicly traded company, posting this to hundreds of thousands of followers after all of this he said base won’t “pump tokens” or “support the chart behind the scenes.” the same person who launched multiple coins that dumped on his community won’t help yours. his charts get LP fees. yours get abandoned the $BRIAN disaster brian armstrong, CEO of coinbase, $50B+ publicly traded company, changed his pfp to a $BRIAN memecoin. 10,000 people bought in. the CEO of the chain is backing it: what could go wrong? he removed the pfp 23 hours later. coin went to zero. 10,000+ people down 99% after trusting the literal CEO 1/3

everything I can remember base leadership has done to its own community in one thread bookmark this for the next time someone tells you “base is different now”

3 days ago jesse posted a long thread admitting he was “definitively wrong” about social. said he’s handing the base app to cobie. said he’ll focus on “building base into the blockchain for global finance” he didn’t step down. he still runs base. the same person who launched coins that dumped on his community, promoted a documented scammer, pushed a strategy everyone told him was failing for 18 months, posted “base is for pimping,” ignored the community’s feedback at every turn, and oversaw two chain outages: he is still in charge he just gave the app to someone else. he still controls the chain. the infrastructure that every builder and trader on base depends on is still run by the same person who just spent 2 years proving he doesn’t listen until it’s too late his own words: “the collateral damage was pretty bad.” he’s right. it was. and it was entirely avoidable if he’d listened to the people using his chain instead of experimenting on them the pattern base is for everyone → $17M to $1.9M in 20 minutes jesse coin → snipers extract $1.3M, regular users dumped on soulja boy promotion → documented scammer amplified by chain lead content coins → 99.8% volume decline, zora leaves for solana base app → “shipped features users never asked for” $BRIAN pfp → CEO changes pfp, 10K+ holders go to zero $VIRTUAL → biggest base token ignored by coinbase for over a year chain outages → twice in 10 months, single point of failure base token tease → community farmed for months, no token delivered farcaster → valued at $1B, sold community feedback → ignored for 18 months until the data was catastrophic at some point you stop calling it mistakes and start calling it a pattern. at some point “we messed up, time to turn the page” isn’t accountability, it’s a cycle. mess up, say sorry, promise to do better, mess up again, say sorry again the community wasn’t wrong. the community was early. they told base exactly what was happening and base didn’t listen until everyone had already left trade on base if you want. but don’t say nobody warned you 3/3

$VIRTUAL, their biggest token, ignored for over a year $VIRTUAL was the biggest success story base ever produced. AI agent meta leader. hit $5B mcap. kraken listed it. binance listed it. coinbase (the company that owns the chain $VIRTUAL was built on) didn’t list it until april 2026. over a year after it launched. by then the token had crashed 87% from ATH. their own chain’s most important project and they treated it like it didn’t exist. $BRETT holders still waiting too. virtuals got so fed up they expanded to solana in january 2025, abandoning base exclusivity because their own chain wouldn’t support them content coins, the entire 2025 strategy that destroyed people base pushed zora content coins as the future of onchain social throughout 2025. they rebranded coinbase wallet as the “base app” and baked zora coin tools into a social feed. 1.6M tokens launched. $470M in volume. base briefly passed solana in daily token launches. looked like it was working then it all collapsed. nick shirley’s coin dumped 80% in 48 hours. zora’s own token crashed 95% from ATH. daily trading volume on zora dropped from $63M at peak to $112K, a 99.8% decline. daily coin creation went from 118,000 to 852. zora then pivoted to solana entirely, abandoning the chain they helped build brian armstrong publicly admitted “they didn’t work and we messed up.” jesse called it “a punch in the face” and said “the collateral damage was pretty bad” and described 2026 as “an exercise in eating sh**” the CEO and the head of the chain both publicly admitted the strategy they pushed for an entire year was a failure. after everyone already lost money. not before. after the community screamed. they didn’t listen this is the part that makes it unforgivable. the community told them. builders told them. traders told them. for months. creators told base the content coin model wasn’t working. developers reported feeling “unsupported and gaslit by base management.” builders said coinbase competed with its own ecosystem, favoring insiders and ex-coinbase employees over the projects that actually bootstrapped the chain people begged them to focus on trading, on perps, on the stuff that was actually working. base ignored all of it because jesse was “experimenting in public” and believed social was the future. the community watched polymarket, hyperliquid, and jupiter eat base’s potential use cases while base was pushing tokenized tweets they didn’t pivot until the data was catastrophic and the trust was already destroyed. not when the community asked. when the community had already left. there’s a difference between “we listen to feedback” and “we eventually admit we were wrong after ignoring feedback for a year and a half” the base token tease september 2025, jesse announced base was “beginning to explore” a native token. the entire ecosystem started farming. people deployed on base, traded on base, built on base: all anticipating an airdrop that never came. months of free labor for coinbase with zero reward. by the time it was clear no token was coming, the farmers had already subsidized base’s growth metrics for quarters the chain goes down. twice august 2025: base went down for 33 minutes. single sequencer failure. june 25, 2026: base went down for over 4 hours. a single invalid block broke the entire chain. no blocks produced. deposits, withdrawals, all frozen. the single-sequencer design means one operator can take the whole chain offline. two major outages in 10 months on the infrastructure they want you to trust with “global 24/7 finance” farcaster collapsed. zora left farcaster, once valued at $1B and deeply integrated with base’s social vision, was sold. zora pivoted to solana. the two projects at the center of jesse’s entire thesis for base both abandoned ship. the foundation of the strategy didn’t just fail, it actively left for a competing chain jesse’s “accountability” 2/3

@Chairman_DN fake holders (in both)

CashCat had 7000 holders at 150M MC Jimothy already has 15,000 LMAOOOOO

dam son

@0xyukaz @base pls

@RuneCrypto_ @base 全体人应该立刻撤离base

sorry to anyone who tailed me on base brian changed his pfp to a memecoin, i wrote a whole thesis on why $BRIAN could be the culture coin that onboards @base users, and he removed it hours later. coin went to zero, 10,000+ people down -90% i was wrong to trust base leadership again. the thesis made sense but the thesis doesn’t matter when the people running the chain don’t care about the people trading on it this is the last time. not saying it out of frustration, saying it as a rule. base has fumbled every single opportunity it’s ever had because the leadership treats their own community as disposable. i’m not giving them another chance to prove me wrong back to chains where the people at the top actually give a shit

@0x_SixxxVC @base yep

@RuneCrypto_ @base 哥们，长记性了吧

@crypto_popseye @cobie @baseapp @base agree with all of this ^ like, it’s not that hard to be aligned with your users. there’s 1,000+ people that would say the same as popseye

Thanks Cobie, there's lots of issues with how Base chain has been run. One example is, despite Solana last bullrun in 2024 being by far the dominant chain, base chain had lots of great volume and projects, a lot driven by Virtuals. I dont understand how it took YEARS for coinbase to list Virtuals which was overwhelmingly the biggest and best utility base native project while taking almost no time to list something like Noice which is dead already. Secondly, the whole coin everything/ $ZORA was literally hated by everyone and feedback was given many times by users/traders that it wasn't working. Yes I know coinbase ventures invested a lot but again the community voices were never heard and a whole ton of money/resources/energy were wasted into something that everyone knew would fail. Thirdly, earlier this year you guys had the whole the sleeping giant, it was tweeted by base app , Jesse talked about the sleeping giant then a few hours later, Jesse tweets oh no I wasn't referring to that and the coin dies, the ecosystem dies, volume dies. Again, makes no sense because no ones dumb enough to believe that Base and Jesse didn't know what they were doing that day. Just like Brian changing his PFP and changing it back again makes 0 sense today? Like if you want to support a meme/runner go for it but then dont backtrack a day later and just completely destroy all the users/traders who bridged back. Lastly, anyone thats building knows that unless you have connections or are family and friends with people from the base team, its almost impossible to get support from them. This needs to end and we need some kind of actual pathway for projects building on base to get some support. Many issues but hopefully they are fixed because base was a great place to trade for a while , I was someone who loved the projects and trading on there but I dont see a reason why I'd care about any projects or coins on there after the constant

yp @cobie real question, no rage you took over @baseapp to make people trade onchain. but the same leadership just showed everyone, again, that believing in anything @base-related for more than 24 hours is a mistake how do you onboard people to an app whose culture strategy is making users feel stupid for showing up

the first issue with coinbase is that it’s a consumer app that doesn’t care about their consumers. it’s been like this for years. then, baseapp is an app for base, a chain led by someone who is currently making fun of the situation, a situation where every crypto native is hating base, but specially, more than 10,000+ base users are down 99% after trusting the base/coinbase leadership you're right that CB has been in an ivory tower. but it's worse than distant, it's been actively harmful to the people who showed up and believed. every other chain's leadership at least pretends to care about their degens. base leadership makes fun of them after they lose money if you can actually change that, you'll have done something nobody thought was possible. but understand what you're walking into, the trust isn't just burned, it's gone i genuinely hope you pull it off. base has the infrastructure to be the best L2 in crypto. it just needs leadership that gives a shit about the people using it. maybe that's you

I took over the baseapp a few days ago yeah (as well as trading products in Coinbase - the Coinbase app, Advanced trading, etc). I don’t run Base chain. I think that typically CB has been a little bit in an ivory tower and a little bit distant from users, particularly crypto natives. I don’t think I will be able to fix that in a week, or maybe even a month. I can try and capture the voice of ppl onchain more and try and align ppl building things more closely w users. Obviously CB/Base has burned a lot of user goodwill w those users thru some unforced errors, including today. Obviously I could simply not do any of these things and have a nice life instead. Lots of ppl, including og base supporters/trenchers, rly hate base rn - throwing myself into the middle of a hatred pile-on is clearly not the most optimal life choice. I am aware I am setting myself up to be blamed by association. So, I wouldn’t be doing this if I thought it were impossible. I’m going to try and ship stuff that ppl like to use. Maybe ppl will hate what I do w the baseapp too, we will see how it goes.

@ChillHouseSOL @RiccoRosas @jessepollak @cobie @inversebrah

@jessepollak @cobie not as hard as keeping a pfp on for more than a day

this is the reason why $brian went to zero

@jessepollak @ChillHouseSOL @cobie hey jesse, do u even care about ur users or u’re just here to have fun

@ChillHouseSOL @cobie the funny tweets every day seem hard tbh

Never underestimate the power of memes community.

It's really sad man...you look at all the technicals...the social fundamentals...the financials....it just made sense. Noone could've seen that coming with Brian, I feel like Jesse got in his ear or something. Really thought this was the one. Sorry to anyone who tailed.

@jessepollak @0xDeployer why are u laughing while ur chain is dying

@0xDeployer lmfao

come collect your prize

I'd rather get lynched than transact on @base ever again. I've seen enough. pfp'ing the coin, getting 10k+ people to bridge back and rally behind it, having the entire Base team hype it up and send it to 37m, only to completely abandon it the next day has to be the most despicable piece of fuckery I've seen all year. we don't hate these people enough.