Jesse Pollak, the creator of Ethereum’s Layer 2 blockchain Base, has taken a significant step forward in his career by joining the Coinbase executive team. Alongside leading the Base team, Pollak will now also oversee the Coinbase Wallet, furthering the company’s mission to make blockchain technology accessible to a broader audience.
In an announcement on X (formerly Twitter), Pollak expressed his enthusiasm for the new role:
“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 is strategic, as both Base and Coinbase Wallet share the goal of simplifying the on-chain experience for users. He emphasized the alignment between the two products, stating,
“Now, we’ll be able to work together more closely to make this happen.“
Pollak also reassured the community that Base would continue upholding its foundational values of decentralization and openness.
“Base will continue to be for everyone, a bridge not an island, and decentralized and open source,” Pollak said, ensuring that Coinbase Wallet will maintain its role in serving the entire on-chain economy.
Synergy Between Base and Coinbase Wallet
By strengthening the collaboration between the Base and Wallet teams, Pollak aims to accelerate Coinbase’s broader mission. The synergy between the two products will ensure users can access and utilize the full range of decentralized finance (DeFi) and blockchain services.
Coinbase Asset Recovery Service for Base
Coinbase recently introduced an asset recovery service for Base. This builds on a tool launched in December 2023, allowing users to recover nearly 4,000 ERC-20 tokens mistakenly sent to Coinbase addresses. The recovery tool enhances user confidence and security in managing crypto assets on the platform.
Coinbase Launches cbBTC Token
Coinbase also recently launched the Coinbase Wrapped Bitcoin (cbBTC) token, an ERC-20 token backed 1:1 by Bitcoin. This new token is designed to improve Bitcoin’s utility within the DeFi space, enabling users to leverage their Bitcoin across decentralized applications (dApps) on Ethereum and Base, Coinbase’s Layer 2 blockchain.
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