Is Base owned by Coinbase?

Could you please clarify for me whether Base is indeed owned by Coinbase? I've been hearing rumors and speculation about this, but I'm not entirely sure what the truth is. If they are indeed affiliated, what does this mean for the operations and future development of both entities? Could you also explain any potential benefits or drawbacks that might arise from such a relationship? I'm quite interested in understanding the intricacies of this situation and how it might impact the larger cryptocurrency ecosystem. Thank you for your time and assistance in clarifying this matter.