Base Co‑Founder Jesse Pollak Denies Any Behind‑the‑Scenes Price Manipulation on the Coinbase‑Incubated L2
By [Your Name] – Crypto News Desk
January 28 2026
Summary
Jesse Pollak, co‑founder of the Ethereum Layer‑2 network Base, publicly refuted rumors that the project’s team is covertly influencing token prices or favoring specific assets. In a recent X (formerly Twitter) post, Pollak emphasized that Base will concentrate on expanding distribution and visibility for high‑quality applications rather than attempting to “pump” any token. The clarification comes amid growing community scrutiny of the market dynamics that have allowed meme‑coin speculation to dominate several blockchain ecosystems.
Background
- Base launched in early 2023 under the auspices of Coinbase, offering an optimistic roll‑up scaling solution for Ethereum.
- By mid‑January 2026 the network captured roughly 70 % of daily Ethereum L2 fee revenue, generating about $147 k in fees on Jan 14, far outpacing rivals such as Arbitrum ($39 k) and Starknet ($9 k).
- Despite its fee dominance, Base has not yet announced a native token, although a speculative “Base” token was recently displayed in X’s Smart Cashtags demo with an alleged $373 bn market cap, reigniting speculation about a future token launch.
Pollak’s Statement
In a thread posted on X (link to Pollak’s tweet), the co‑founder addressed community concerns about whether Base’s team might be covertly allocating capital to push particular projects to higher market caps. His key points were:
- No Private Coordination or Capital Deployment – The team will not orchestrate or fund price moves for any asset, as doing so would undermine other projects and contradict the platform’s ethos.
- Market Integrity – Base is committed to preserving a free, open, and fair marketplace, mirroring the broader expectations for decentralized finance.
- Focus on Ecosystem Growth – Rather than “pumps,” the team aims to attract capital and attention through better distribution and exposure for quality applications.
- Acknowledgement of Gaps – Pollak admitted that the current approach could be improved and that Base intends to refine its outreach and incentive structures.
Why the Rumor Emerged
The speculation originated from a series of X conversations questioning why Base has not publicly backed projects that could reach “significant” market caps. One commentator suggested that the lack of overt support highlights a broader industry problem where meme‑coin hype overshadows substantive development. The rumor gained traction after X product lead Nikita Bier shared a screenshot of the platform’s “Smart Cashtags” feature, which displayed a hypothetical Base token priced at $130 with a $373 bn market cap. Although the image was a demo, it sparked fresh debate about potential tokenization of the network.
Independent Analysis
| Factor | Observation | Potential Impact |
|---|---|---|
| Fee Dominance | Base controls ~70 % of L2 fee revenue on Ethereum. | Strong network effect may attract developers and users, reinforcing its market position. |
| Absence of Native Token | No official Base token yet, despite speculation. | Allows the project to avoid immediate token‑related price concerns, but may delay incentives for ecosystem participants. |
| Public Commitment to Market Fairness | Pollak’s explicit rejection of price manipulation. | Enhances credibility among developers and investors wary of centralized influence. |
| Community Sentiment | Ongoing demand for transparent support of high‑potential projects. | Could pressure Base to develop clearer on‑chain incentive mechanisms (e.g., grants, staking programs). |
The firm’s stance aligns with regulatory expectations that prohibit market manipulation, especially given Coinbase’s status as a regulated exchange. Any covert price‑support activity could expose Base and its parent company to legal scrutiny, as well as damage its reputation among the broader DeFi community.
Key Takeaways
- Transparency Over Manipulation: Base’s leadership has publicly ruled out secretive price‑support tactics, reaffirming a commitment to open markets.
- Ecosystem Focus: The network will prioritize broader distribution, visibility, and capital inflow for quality applications rather than token “pumps.”
- Regulatory Alignment: By eschewing price manipulation, Base reduces the risk of regulatory violations—a critical consideration given Coinbase’s compliance obligations.
- Market Position: With a commanding share of Ethereum L2 fees, Base’s operational decisions carry weight across the broader scaling ecosystem.
- Future Incentives: Community calls for more active support may lead Base to launch formal grant or incentive programs, especially if a native token eventually materializes.
Outlook
As Base continues to dominate Ethereum L2 fee revenue, its governance and market‑behavior policies will remain under close observation. Stakeholders will watch for concrete measures—such as grant rounds, developer bounties, or on‑chain incentive structures—that translate the co‑founder’s stated principles into actionable support for the ecosystem. The absence of a native token for now shields the network from immediate price‑manipulation accusations, but future tokenization plans will likely reignite scrutiny over market fairness.
For further updates on Base and other Ethereum scaling solutions, stay tuned to our newsletter.
Source: https://cryptopotato.com/ethereum-layer-2-base-co-founder-rejects-behind-the-scenes-price-manipulation/
