Coinbase Defends Its Sale of Ethereum Amid Community Backlash

Coinbase has responded to criticism over its sale of Ethereum (ETH), saying that its contributions to the ecosystem are being overlooked.

In a social media post, Coinbase founder Jesse Pollak argued that the company is one of the largest institutional ETH holders and has made significant contributions to various developments in the EVM and Ethereum roadmap.

Pollak pointed out that Coinbase introduced millions of users to the Ethereum ecosystem through its Base network and has held approximately 150,000 ETH over the years.

The comments came after a member of the Ethereum Foundation argued that much of the community backlash against Coinbase was misdirected, highlighting the company's contributions to various projects in the Ethereum ecosystem.