Pollak Denies Coinbase Selling ETH Holdings Amid Ecosystem Contributions

Coinbase Executive Pollak Denies ETH Sale Claims

Jesse Pollak, Coinbase executive leading Ethereum layer-two network Base, has responded to recent criticism from the Ethereum community.

Pollak refuted claims that Coinbase has been selling its Ethereum holdings, stating 'Coinbase is by far the largest holder of ETH among non-DAT institutions.'

Coinbase reportedly holds approximately 115,000 to 151,000 ETH in its corporate treasury, valued at around $300 million.

Pollak emphasized Coinbase's active role in the Ethereum ecosystem, citing involvement in the EIP-4844 upgrade and co-development of USDC stablecoin. He also highlighted Base's recent achievement of Stage 1 decentralization, a significant milestone reducing centralized control.