Coinbase’s Base Co-founder Faces Community Backlash Over Soulja Boy Meme Coin Association

Jesse Pollak, co-founder of Base—the Ethereum Layer 2 blockchain incubated by Coinbase—has sparked significant controversy within the cryptocurrency community following a social media post that appeared to endorse a meme token associated with rapper Soulja Boy. The incident occurred on December 16, 2025, when Pollak highlighted Base's creator payout feature in a manner that many interpreted as tacit support for the celebrity's crypto ventures. This perception was particularly problematic given Soulja Boy's well-documented history of failed and controversial cryptocurrency projects. Blockchain investigator ZachXBT quickly amplified these concerns, reminding the community of the rapper's track record with abandoned initiatives. The backlash underscores the delicate balance that established platforms like Coinbase and their affiliated projects must maintain when engaging with the volatile meme coin sector. While Base aims to empower creators through its blockchain infrastructure, this incident reveals how perceived associations with high-risk celebrity projects can damage credibility and trust within the crypto ecosystem. The community reaction highlights growing scrutiny over the ethical responsibilities of industry leaders in promoting or platforming projects, especially those tied to figures with questionable histories in the space. This event may prompt more rigorous vetting processes for projects featured by major platforms and their executives moving forward.

Base Co-founder Faces Backlash Over Soulja Boy Meme Coin Mention

Jesse Pollak, co-founder of Base, has drawn criticism from the crypto community after appearing to endorse a meme token linked to rapper Soulja Boy. Pollak's social media post highlighting Base's creator payout feature was interpreted as tacit support for the celebrity's crypto ventures—despite Soulja Boy's controversial track record with failed projects.

Blockchain investigator ZachXBT underscored the rapper's history of alleged scams, fueling debate over leadership accountability. The incident raises questions about trust in Base, a Coinbacked blockchain positioning itself as a credible platform.

BitMine Expands ETH Holdings to 3.97M, Nears 5% Supply Target

BitMine Immersion Technologies (BMNR) has aggressively increased its ethereum reserves, adding 102,259 ETH this week at an average price of $3,074 per token. The firm now holds 3.97 million ETH—equivalent to 3.2% of the total supply—as part of its strategy to control 5% of circulating ETH. The acquisitions align with BitMine's bet on a "crypto supercycle," fueled by Ethereum's Fusaka upgrade, Federal Reserve policy shifts, and Wall Street's growing interest in asset tokenization.

The company's $13.2 billion portfolio includes 193 BTC, a $38 million stake in Eightco Holdings (ORBS), and $1 billion in cash. BitMine plans to launch a proprietary staking network, further tightening its grip on Ethereum's ecosystem. The move underscores institutional confidence in ETH's long-term value as a foundational LAYER for tokenized assets.