Base and Coinbase work on 1:1 tokenized stocks as Robinhood leads the charge. * July 21, 2026 * By Automation Digital Currencies Base, an Ethereum layer-2 network, is collaborating with Coinbase to create a product for tokenized equities that will be backed one-to-one by actual shares. This initiative comes as Robinhood Chain has made strides in integrating stock-linked assets into an EVM-compatible environment. Progress on tokenized equities. Jesse Pollak, founder of Base, expressed his frustration regarding the pace of development in the tokenized equities sector, acknowledging that Robinhood Chain has set a precedent with its swift implementation. He highlighted that the forthcoming Base product will be distinct from Robinhood's offerings, as it aims to utilize equities backed by real shares. Although Pollak did not specify a launch date or detail the list of supported stocks, he emphasized the advantages of their model in terms of trust and capital efficiency. Stocks & Bonds Market implications and competition. As the market for tokenized stocks continues to expand, the competition intensifies, with the total value of this sector estimated at approximately $1.85 billion. stocks. Coinbase's strategy involves creating a product that ensures equity ownership alongside shareholder rights, while Pollak's comments suggest that Base is on the verge of aligning closely with these developments. However, key details regarding custody, transferability, and regulatory aspects remain to be clarified before investors can fully assess the competitive landscape. Discover more Stock Exchanges Financial Markets News

Coinbase CEO Armstrong: self-custody essential to reach 1 billion crypto users. 2026-07-18 14:42:44 Brian Armstrong, CEO of Coinbase, emphasized that self-custody is essential for scaling cryptocurrency adoption to the next billion users globally. Armstrong stated that while the Coinbase app worked well in developed countries, the U.S. represents only 4% of the global population, and self-custody enables lower friction onboarding available globally. The statements come amid debate over self-custody relevance in the crypto industry following Jesse Pollak's departure as head of Base, the Coinbase-incubated blockchain project. Armstrong explains self-custody as path to global crypto adoption. Brian Armstrong addressed the need for self-custody wallets to expand cryptocurrency adoption beyond developed markets on social media. Armstrong stated that while alternatives like the Coinbase app "worked great in developed countries" with clear rules, the U.S. accounts for only 4% of the global population. "To get to 1b+ people benefiting from the open financial system, self custody is the only way. Lower friction onboarding, available globally, scales like software rather than a separate regulated entity + local team per country," Armstrong stated. Armstrong pointed out that agentic adoption, described as a future driver of blockchain adoption, is the "better format" for agents to access funds to complete assigned tasks. "Even in developed countries, self-custody is very important for economic freedom," Armstrong concluded. Pollak steps down as base head, hands leadership to Cobie. Jesse Pollak stepped down as head of Base and handed leadership to Jordan Fish, known in crypto circles as Cobie. Pollak described Base's initial focus on social features as a "wrong bet." "We're going to build base into the blockchain for global finance and do everything we can to be the place that the world's money settles over the next century," Pollak stated after announcing the leadership transition. Under Cobie's leadership, Base is expected to pivot to three fundamental pillars: trading, payments, and agents under one chain. Faq. What did Brian Armstrong say about self-custody wallets? Brian Armstrong stated that self-custody is the only way to get 1 billion+ people benefiting from the open financial system, enabling lower friction onboarding available globally that scales like software rather than requiring a separate regulated entity and local team per country. Who is the new head of Base after Jesse Pollak stepped down? Jordan Fish, known in crypto circles as Cobie, took over leadership of Base after Jesse Pollak stepped down from the position. What are Base's three strategic pillars under new leadership? Under Cobie's leadership, Base is expected to pivot to three fundamental pillars: trading, payments, and agents under one chain. Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Jesse Pollak leaves Base leadership after failed social strategy. Base is now redirecting attention toward payments, trading, and AI agents as competition among crypto platforms intensifies. Published on: Jul 16, 2026 @ 12:59 UTC Base creator Jesse Pollak said he is stepping back from leading the app after taking responsibility for one of the biggest mistakes in the network's history. He admitted that his bet on on-chain social economy had failed to drive crypto adoption like he thought it would. Base's failed bet on social networking. After months of reflection and a week of listening to community feedback, Pollak shared his thoughts on Base's tough 2026. He described the first quarter as a "punch in the face," noting that he had spent 2024 and 2025 betting on two ideas that he believed would push the app forward. Base's long-term strategy was made on the assumption that builders would unlock the next wave of crypto adoption and that this, in turn, would come through on-chain social experiences such as creator platforms, messaging and content. Looking back, Pollak now says only half of his theory was right. According to him, builders did drive the next adoption phase, which was seen in how stablecoins, prediction markets, perp trading and tokenization gained momentum. But social platforms didn't experience the same level of success, with projects like Farcaster, Zora, mini apps and creator coins failing to achieve widespread adoption. "The entire social side of the market that many of us had been building towards disintegrated completely...I was wrong" he wrote. The crypto firm launched the Base App in 2025 as a rebrand from its Coinbase Wallet into an "everything app" that combines social networking, trading, messaging, AI tools and creator monetization. However, Pollak admits that the focus on social products left the network struggling to catch up with its competitors. People also lost confidence in the platform, he said, while critics were quick to remind him of every mistake. You may also like: Pollak steps back from leadership role. The Base founder said that he is handing back the app's leadership to Coinbase so he can focus on the blockchain itself. Jordan Fish, popularly known as Cobie, will now take over his position and lead the product's next chapter. "We're going to build Base into the Blockchain for global finance and do everything we can to be the place that the world's money settles over the next century,"he said. Pollak added that his new mission was to make Base a blockchain that powers global finance, which he says is where crypto's biggest opportunity now lies. The network's priorities for the rest of the year will focus on three main areas, including trading, payments and AI agents. The statement ended with him saying that Base isn't expecting an easy road ahead, with growing competition from companies like Robinhood and Stripe heating up. But instead of expecting users loyalty by default, he said that it wants to earn their trust back. SPECIAL OFFER (Exclusive) LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!