Latest news with #Pollak
Business Mayor
26-05-2025
- Business
- Business Mayor
Decoding Base's upgrade plan: Is it ready to take on Ethereum?
Base's TVL surged to $4 billion with upgrades for faster transactions, lower fees, and decentralization. Base challenges Ethereum's scalability with ambitious performance upgrades and decentralization plans, eyeing L2 dominance. Base is stepping up. With its TVL climbing back to late-2024 highs, the Coinbase-backed Layer 2 is launching key upgrades to reduce fees, speed up transactions, and decentralize its infrastructure on Ethereum's mainnet. However, with Ethereum still facing scalability challenges, the real question is—can Base transition from a fast follower to a dominant Layer 2 player? Base's bold vision for the future Jesse Pollak's latest X post sketched a performance roadmap for Base: sub-200 millisecond confirmation times, fees under a cent, and output at 200 transactions per second. Source: X But it's not just about speed, seems like. Pollak emphasized neutrality – eliminating sandwich attacks and giving builders fair execution – alongside plans to decentralize core infrastructure in two stages. When asked if Base could ever hit 1 million TPS, his one-word reply – yes – wasn't framed as a joke. TVL rebounds – but can momentum stick? Base's rapid ascent As of May 2025, Base has emerged as a formidable player in the Layer 2 landscape. This growth positions Base ahead of competitors like Arbitrum [ARB] and Optimism [OP] in terms of TVL and daily transaction volumes. Ethereumm[ETH] isn't standing still. The recent Pectra upgrade brought moderate gains in scalability – boosting blob output and nudging smart contract wallet usability forward. Read More PEPE prices up 12% from this support level – Is it all good news? Further down the roadmap, the Fusaka upgrade promises more technical muscle through PeerDAS and Verkle Trees, targeting data availability and state size concerns. Base, on the other hand, is moving faster. With shorter confirmation times, cheaper fees, and a push toward decentralizing core operations, it's making a case for near-term dominance in the L2 arena. READ SOURCE
Forbes
30-04-2025
- Business
- Forbes
The Controversies Around Zora And Base, Explained
Tokenized content concept Jesse Pollak, the CEO of Base, has been saying for weeks: 'coin everything." And it couldn't get away without facing a mixed response, especially after the incident involving a screenshot of a conversation on Hinge. What started as a joke referring to Pollak's viral video 'Do you want to go onchain?', opened a Pandora's box of comments protecting the woman's image of a person. While the X post has been deleted, the bad aftertaste will be left onchain. At the epicenter of this controversy is Zora–a decentralized platform for publishing and monetizing digital content, which emerged as a central part of Base's strategy to build a vibrant onchain creator ecosystem. That vision was quickly tested on April 16, 2025, when the 'Base is for everyone' meme token launched through Zora collapsed by 95% shortly after its release, wiping out millions of dollars in value. As reported by insider wallets were heavily involved, raising concerns regarding transparency. Although Base later attempted to distance itself from the project, the damage to public perception had already been done. Zora's reputation continued to face pressure with the rollout of content coins, intended to offer a fungible, creator-driven alternative to NFTs. The example of tokenization of a Hinge conversation trivialized the concept, reinforcing public doubts. Many users failed to see a distinction between content coins and traditional NFTs; Zora's communication strategy did little to clarify this confusion, leaving the platform vulnerable to criticism that it was simply repackaging speculative assets. Since then, Zora has managed to regain activity, largely driven by an airdrop program that has quickly become a meme in its own right. Most memes depict the high hopes users had for their $ZORA airdrop and the disappointment they felt once the actual rewards arrived. While the tone is light, the meme reflects a real tension: users are engaging, but not always because they believe in the long-term vision. Furthermore, airdrops often serve as a quick fix, which can also be related to the concept of token burn, driving short-term attention rather than durable, sustained growth. Of course, that is one strong perspective; others might see these early incentives as necessary experiments to bootstrap new forms of creator economies. Still, the challenge of content coins leaning heavily on airdrop farming is valid, although people are now getting paid. There is limited evidence of sustained demand rooted in the actual value of tokenized content. While creator payouts have increased, they may reflect a temporary reward loop rather than long-term viability. From a durability perspective, Zora must demonstrate that these tokens can carry cultural or utility-based weight and survive in the competitive attention economy. Especially if what people are dealing with are content coins being called 'rebranded NFTs'. Even though the sentiment has greatly improved and crypto feeds are now filled with people being paid for their posts, the time will verify Zora, similarly to how we could observe the coming and going trends around Mirror or Lens Protocol.
Business Mayor
28-04-2025
- Business
- Business Mayor
Base Network Expands Access for SVM Builders: New Opportunities for Crypto Traders in 2025
The recent statement from Jesse Pollak, a prominent figure in the Base ecosystem, on April 28, 2025, at 10:15 AM UTC, has sparked significant interest in the cryptocurrency community. Pollak's tweet, stating 'Base is for everyone — including SVM builders, love seeing this kind of experimentation,' highlights the inclusive nature of Base, a layer-2 scaling solution for Ethereum, and its openness to innovative technologies like Solana Virtual Machine (SVM) builders (Source: Twitter, @jessepollak, April 28, 2025). This development signals potential cross-chain collaboration and experimentation, which could impact trading dynamics for Base-related tokens and broader layer-2 solutions. As of April 28, 2025, at 12:00 PM UTC, the price of Ethereum (ETH), closely tied to layer-2 solutions like Base, saw a modest increase of 1.2% within 24 hours, reaching $3,250 on Binance (Source: Binance Market Data, April 28, 2025). Trading volume for ETH spiked by 8.5% during the same period, with over $12.3 billion in transactions recorded across major exchanges like Binance and Coinbase (Source: CoinGecko, April 28, 2025). This uptick suggests growing market interest in Ethereum-related projects following Pollak's statement. Additionally, on-chain data from Dune Analytics shows a 15% increase in Base network transactions, reaching 1.2 million daily transactions as of April 28, 2025, at 1:00 PM UTC (Source: Dune Analytics, April 28, 2025). This surge indicates heightened user activity, potentially driven by the buzz around Base's inclusive approach to developers and builders, including those from competing ecosystems like Solana. For traders, this event could mark the beginning of a bullish sentiment for layer-2 tokens and Ethereum-based assets, especially as cross-chain interoperability becomes a trending topic in the crypto space. Keywords like 'Base layer-2 solution trading,' 'Ethereum layer-2 price analysis,' and 'cross-chain crypto opportunities' are essential for understanding this market shift. The trading implications of Base's openness to SVM builders are multifaceted and worth close attention. As of April 28, 2025, at 2:00 PM UTC, the ETH/BTC trading pair on Binance reflected a 0.8% gain, with ETH trading at 0.052 BTC, indicating relative strength against Bitcoin during this news cycle (Source: Binance Trading Data, April 28, 2025). For layer-2 specific tokens, such as Optimism (OP) and Arbitrum (ARB), which are often correlated with Base's developments, prices saw gains of 2.3% and 1.9%, respectively, within the same 24-hour period, with OP at $2.15 and ARB at $1.08 (Source: CoinMarketCap, April 28, 2025). Trading volumes for these tokens also rose significantly, with OP recording a 12% increase to $180 million and ARB a 10% increase to $210 million as of April 28, 2025, at 3:00 PM UTC (Source: CoinGecko, April 28, 2025). This suggests that traders are positioning themselves for potential growth in the layer-2 sector, driven by Base's inclusive narrative. On-chain metrics further support this trend, with Base's Total Value Locked (TVL) increasing by 7% to $5.8 billion as of April 28, 2025, at 4:00 PM UTC (Source: DeFiLlama, April 28, 2025). For traders, this presents opportunities in swing trading ETH and layer-2 tokens, particularly as market sentiment shifts toward interoperability and innovation. The correlation between Base's developments and AI-related tokens, such as (FET), is also noteworthy, as AI-driven trading algorithms could capitalize on cross-chain experimentation news. FET saw a 1.5% price increase to $0.75 on April 28, 2025, at 5:00 PM UTC, with a trading volume up by 9% to $95 million (Source: CoinMarketCap, April 28, 2025). This indicates that AI-crypto crossover trading opportunities may emerge as developers leverage AI tools for Base and SVM integrations. From a technical analysis perspective, key indicators provide deeper insights into potential trading setups. As of April 28, 2025, at 6:00 PM UTC, ETH's Relative Strength Index (RSI) on the 4-hour chart stood at 58, signaling a neutral-to-bullish momentum without overbought conditions (Source: TradingView, April 28, 2025). The Moving Average Convergence Divergence (MACD) for ETH also showed a bullish crossover, with the signal line crossing above the MACD line at 6:30 PM UTC on the same day (Source: TradingView, April 28, 2025). For Base-related metrics, while direct token data isn't available, the ETH/USDT pair on Binance recorded a 24-hour high of $3,280 at 7:00 PM UTC, with support forming at $3,200 (Source: Binance Chart Data, April 28, 2025). Volume analysis reveals that ETH's trading activity peaked at $1.5 billion in a single hour at 8:00 PM UTC on April 28, 2025, reflecting strong market participation post-news (Source: CoinGlass, April 28, 2025). For AI-related tokens like FET, the RSI hovered at 55 on the daily chart as of 9:00 PM UTC, indicating room for upward movement (Source: TradingView, April 28, 2025). The correlation between AI developments and crypto markets is evident as AI-driven trading bots and analytics platforms may drive volume in layer-2 solutions like Base. Traders should monitor FET/ETH and FET/BTC pairs, which saw volume increases of 6% and 5%, respectively, reaching $10 million and $8 million on April 28, 2025, at 10:00 PM UTC (Source: CoinGecko, April 28, 2025). This detailed analysis underscores the potential for strategic trades in both layer-2 and AI-crypto sectors, leveraging Base's inclusive approach as a catalyst for market sentiment. For those searching 'best layer-2 crypto trading strategies' or 'AI crypto trading opportunities 2025,' these data points offer actionable insights. Read More Layer 1 payments network CrossFi launches EVM-compatible mainnet FAQ Section:What does Base's openness to SVM builders mean for crypto traders? Base's inclusive stance, as announced by Jesse Pollak on April 28, 2025, suggests potential cross-chain collaborations, which could drive price and volume increases for layer-2 tokens and Ethereum. Traders can explore opportunities in ETH, OP, and ARB, with volumes already up by 8.5%, 12%, and 10%, respectively, as of April 28, 2025 (Source: CoinGecko, April 28, 2025). How are AI tokens impacted by Base's developments? AI tokens like (FET) have shown a 1.5% price increase to $0.75 as of April 28, 2025, at 5:00 PM UTC, with a 9% volume spike, indicating potential crossover opportunities as AI tools may enhance Base and SVM integrations (Source: CoinMarketCap, April 28, 2025). READ SOURCE businessmayor April 28, 2025
Yahoo
19-04-2025
- Business
- Yahoo
Coinbase in hot water over $12 million ‘content coin'—but exec tells haters to lean in
U.S. crypto exchange Coinbase launched a memecoin. Or rather, its subsidiary issued a 'content coin.' Or maybe it just posted 'on-chain' content? The distinctions are slippery but, however one defines Coinbase's actions, the response from the crypto industry has been withering—and put the publicly traded company on the defensive. The controversy began on Wednesday when the social media team for Base, Coinbase's blockchain, posted a picture that read, 'Base is for everyone,' on Zora, an NFT platform that has pivoted to memecoins. When Base posted the image, Zora created a linked cryptocurrency, which soon rocketed to a market capitalization above $14 million before crashing to $1 million. It's since rebounded to more than $12 million as of Friday evening, according to Dexscreener. Crypto industry commentators alleged that the token launch was a 'pump-and-dump' scheme, or when influencers push—or 'pump'—up a cryptocurrency's price only to sell—or 'dump'—the token for profit. 'Base will never sell these tokens, and these are not official network tokens for Base, Coinbase, or any other related product,' Coinbase said in a statement. So what exactly happened—did Coinbase actually launch a memecoin? And why are folks so angry? Here's a guide to the controversy: Founded in 2020, Zora was originally conceived as an NFT platform where users could turn images into non-fungible tokens others could buy and sell. But, as the NFT market dried up, Zora pivoted to memecoins, or cryptocurrencies that have no utility and have been traditionally based on online jokes. Memecoins have become all the rage in crypto, so the pivot, which occurred in late February, made sense. 'Zora is a social network where every post is a memecoin,' Dee Goens, the cofounder and COO of the startup, told Fortune in a statement. The company issues its memecoins on Base, a layer-two blockchain built on top of Ethereum that Coinbase has promoted and developed. So, Jesse Pollak, a member of the Coinbase executive team who heads the company's Base division, began to experiment with the platform. He made a series of posts on Zora over the past six weeks that generated their own cryptocurrencies, including a picture of granola and an AI-generated image of a baby. 'I totally agreed with that change,' Pollak told Fortune, in reference to Zora's transition from NFTs to memecoins, 'because it lets creators monetize better and lets them go viral faster.' On Wednesday, the corporate account for Base, not just Pollak, experimented with Zora and effectively launched its own memecoin, or what Pollak called a 'content coin.' The term, he said, refers to cryptocurrencies associated with online media whose price can be interpreted as a reflection of a post's popularity. 'It's not just creators who are individuals who deserve to benefit from these technologies,' he said. 'It's also brands.' Traders soon bought up the 'content coin' from Base. 'People just thought it was a memecoin, and if there's an official memecoin launched by Coinbase, or Base, under that big brand, that everyone knows and loves, that is going to be the sole focus,' Alon Cohen, the cofounder of the memecoin launchpad told Fortune. However, traders were mistaken that the memecoin would be Coinbase's "sole focus." Base made another post on Zora that generated another cryptocurrency, which prompted the original token's price to plummet. After reeling from one memecoin debacle after another, some in crypto's very online community felt a sense of deja vu. 'When they launched the second coin, people felt quote, unquote rugged, and that's what was reflected in the chart,' said Cohen, referring to 'rug pulls,' or when scammers hype up a crypto project only to disappear after cashing out victims' money. The token's price, however, recovered, and Pollak said the outrage was misplaced. Coinbase didn't profit off the token launch, has no plans to sell its memecoin holdings, and is just experimenting with new technology. 'This is just for creativity,' he said. Cohen, whose company has become the standard bearer for memecoins, said he didn't believe Coinbase and Pollak were acting maliciously. 'They just didn't understand the market as well as they should have, and what they should have done,' he concluded. Despite the backlash, Pollak remains undaunted. He believes 'content coins' are the future for online media. And on Friday, he continued to post on Zora. His most recent 'memecoin'—or 'content coin'—was connected with a screenshot of one of his recent X posts. 'Base is for everyone,' it read. 'Even the haters.' This story was originally featured on Sign in to access your portfolio
CBS News
27-03-2025
- Climate
- CBS News
Palisades Fire victims form volunteer fire brigade as they work to rebuild their community
Months after thousands of homes in their community were destroyed by the Palisades Fire, some Pacific Palisades residents have decided to take action by forming their own volunteer fire brigades. It's a common trend that has been happening across Los Angeles County after the devastating series of wildfires ravaged much of the region in early January. So far, there have been similar groups formed in Altadena and Topanga, joining the already established team in Malibu. While they work to rebuild their communities, they're also looking ahead to the next potential tragedy and getting ready to protect themselves if the need arises. Joel Pollak is one of those volunteers, who recalled the chaotic moments that he and two men were able to save his home, and a row of others alongside it. "Two guys drove up in a pickup truck," Pollak said. "I had never seen them before. I think they were handymen from the neighborhood and they volunteered to help, so the three of us took a couple more buckets and we formed an assembly line putting out the fire at my house." He believes their actions played a large part in keeping his home standing. Unfortunately though, hundreds of others burned, something he says points to system failures. "Even when they were able to show up, they didn't have water. No pressure in the hydrants, not any water in the reservoir," Pollak said of firefighters attempting to battle the rapidly spreading flames on January 7. "There were also so many other things that local people struggled with. The traffic jam on Sunset Boulevard that resulted in the fire department having to bulldoze those cars, and really could've cost many people their lives." Now, he and five of his neighbors have turned their focus on strengthening what his three-man assembly line was able to accomplish months ago. "Ordinary neighbors who just wanted to be part of something. That's why we started the Marquez-Knolls Volunteer Fire Department," Pollak said. The nonprofit team may mirror Malibu's Community Brigade, which has recently made headlines for standing on the frontlines with firefighters in the face of recent wildfires. Marquez-Knolls' group already has a truck and water tanks, and if possible they'll look to train with Los Angeles' firefighters. Pollak said that he imagines they'll be able to help in an even broader sense when it comes to emergency response. "Direct traffic, they can guide people in evacuations, that can communicate with law enforcement and with the fire department, that can offer advice or first aid, and that can offer some basic firefighting skills before the trucks arrive, before the professionals arrive, or if they can't arrive," he said. He says that they're not trying to become firefighters, they just want to help in the face of an unprecedented emergency like they saw months ago. "We're not trying to become firefighters, we want to work with the fire department and do things to help prepare the community for an emergency. Making sure people are ready for an emergency — because we weren't." As they continue to put together the first pieces of their team, they've started an online fundraiser to help pay for basic materials like walkie talkies and training.
