Pollak Denies ETH Sale Claims, Highlights Coinbase's Ecosystem Contributions

Coinbase executive Jesse Pollak has denied claims that the company is selling its Ethereum holdings. In a series of posts on X, Pollak emphasized Coinbase's position as a major ETH holder and highlighted its contributions to the Ethereum ecosystem.

Pollak stated that Coinbase 'is by far the largest holder of ETH among non-DAT institutions,' with around 115,000 to 151,000 ETH in its corporate treasury valued at approximately $300 million. This figure is significant, as it suggests that Coinbase's stake in Ethereum is substantial.

Pollak also pointed out that Coinbase has been actively involved in the EIP-4844 upgrade and the co-development of USDC, a major stablecoin. Additionally, Base, an Ethereum layer-two network led by Pollak, recently achieved Stage 1 decentralization, a key milestone in its growth.