Base apps head steps down, admits on-chain social strategy failed

Jesse Pollak, the developer leading apps for Coinbase's Layer 1 network Base, has stepped down after admitting his on-chain social strategy failed, CoinDesk reported. For the past two years, Pollak had championed the idea that builders and on-chain social experiences would drive the next wave of growth in cryptocurrency. In a post on X, he stated that social applications have completely collapsed and admitted he was wrong. Pollak added that Base's focus on social features caused it to lag behind competitors in key areas such as trading, tokenization, and payments. He said he has handed control of Base apps back to Coinbase headquarters. Crypto trader Jordan Fish, better known by the pseudonym Cobie, is set to take over as head of development.