According to CoinMeta, Wu said that members of the Ethereum Foundation, chaskin and ETH, stated that many of the recent criticisms against Coinbase from the Ethereum community are “seriously misplaced.” Coinbase has been one of Ethereum’s largest customers, distribution channels, and builders for nearly a decade. Its decision to build a settlement system based on Ethereum and use ETH as the gas for Base rather than launching an independent L1 that directly competes with Ethereum is understandable. In addition, Coinbase is also involved in the development of products such as USDC, CBBTC, EIP-4844, ERC-4337 smart wallets, and X402 as well as infrastructure construction. The founder of Base, Jesse Pollak, later shared this view, expressing his confusion over the attacks on the company due to Coinbase’s “sale of ETH.” He also mentioned that Coinbase is one of the largest non-DAT ETH holders and at the same time one of Ethereum’s largest customers.