Coinbase Ditches Social Ambitions, Rebrands Base App as Trading-Focused Coinbase Wallet

Coinbase has rebranded its Base App to Coinbase Wallet, according to an announcement made on September 10. The decision comes after a significant shift in focus from social features to trading.

The Base App was initially conceived as a platform combining trading, user communication, payments, and mini-apps. However, CEO Brian Armstrong admitted that the social experiment did not yield the expected results, citing a lack of sustainable economy for tokens used by content creators.

Coinbase has expanded its supported networks to include Robinhood Chain, the blockchain of competing platform Robinhood. Product lead Ryan Kass emphasized that access to various ecosystems would attract users and drive interest in trading.