Base Resets Strategy as Robinhood Chain Surges

Coinbase is pivoting its Ethereum layer two network, Base, to focus on trading, payments, and tokenized assets. Jesse Pollak, the creator of Base, recently admitted that the network lost momentum by prioritizing social products like creator coins and mini apps. As interest in those areas faded, Base fell behind in financial sectors that are now drawing the most capital and user activity.

To correct course, Coinbase is separating its consumer app development from the underlying blockchain infrastructure. Jordan Fish will take over the consumer side, while Pollak focuses on building Base into a global financial settlement layer. This shift aims to keep Coinbase competitive against fintech giants like Stripe and Robinhood, both of which are aggressively pursuing stablecoin payments and tokenized assets.

Meanwhile, Robinhood recently launched its own blockchain and saw a fast initial uptake. By integrating tokenized stocks and popular decentralized finance tools, the network saw monthly active addresses jump tenfold to over 1 million in just one week. The chain processed billions in trading volume, positioning itself as a major player for spot trading.

However, Robinhood is already hitting a familiar roadblock. While their financial products drove initial interest, memecoin trading currently accounts for a significant portion of the network activity. This complicates their goal of becoming a serious institutional hub, as they now have to manage the same volatile, speculative behavior that previously slowed down the growth of other major networks.