Coinbase Reverts Back to Coinbase Wallet Amid Failing Social Experiment
Coinbase has reversed its decision to rename Coinbase Wallet to Base App after just over a year, citing disappointing results from the social experiment. The company had pitched Base as an 'everything app' combining trading, payments, messaging, and other features built around the Base layer-2 network.
However, CEO Brian Armstrong stated in March that the social experiment 'didn't quite work,' and creator Jesse Pollak later acknowledged that demand for social products had 'disintegrated completely.'
Coinbase is now refocusing on multichain trading and decentralized finance with Coinbase Wallet. The app supports 11 networks, including new additions Robinhood Chain and Monad.
The company has also introduced perpetual futures powered by Hyperliquid, offering over 290 markets with up to 50x leverage for eligible users. Tokenized stocks and prediction markets are also available inside the wallet, but geographic restrictions apply.