0xgreenninja

Coinbase walked back one of its biggest product bets on September 10, 2026.
Back in July 2025, they took Coinbase Wallet and turned it into something called the Base App. Not just a wallet anymore, but a full "everything app" trading, a social feed, creator monetization, messaging, mini-apps, payments, identity, all in one product. That's now over. The Base App is Coinbase Wallet again.
So what actually happened?
CEO Brian Armstrong basically admitted it back in March. The social side "didn't quite work." His words.
Makes sense when you think about it. People already knew what Coinbase Wallet was for. Hold your crypto, connect to DeFi, trade onchain. Simple. Then Coinbase asked those same users to see it as a social network too, competing for attention against X, Instagram, TikTok, Discord. That's a fight a wallet was never built to win.
Creator coins didn't help either. Base pushed hard on creator tokens through 2025. Creators monetize their audience directly onchain, sounds great on paper. In practice a lot of them behaved like pure speculation, spiking on attention then crashing right after. Trading kept doing what trading does. People showed up and used it.
What's changing now
Coinbase isn't shutting anything down. They're splitting two things that got tangled together.
Base becomes the blockchain and infrastructure layer. Jesse Pollak says it's already leading onchain spot trading for BTC and ETH, with DeFi TVL at an all-time high of $5.7 billion.
Coinbase Wallet becomes the self-custodial trading app on top of that infrastructure, expanding into memecoins, perpetual futures, prediction markets, and tokenized stocks, across more than ten blockchain networks. Coinbase's Head of Wallet Product called it a "test kitchen" for assets before they're ready for the main exchange.
What about the $BASE token?
Still coming, still no date.
Pollak first floated the idea back in September 2025 at the BaseCamp conference, calling it "very early." A month later he shut down speculation about a quick launch, saying flatly it wouldn't happen in 2025. Since then, Base has moved forward on other fronts, including tokenized stocks that Pollak called "imminent" back in July, but that's a different product from the actual network token.
As of the September rebrand, there's still no confirmed launch window for $BASE. JPMorgan analysts have floated a potential valuation as high as $30–34 billion for it based on institutional interest, but until Coinbase actually ships it, that's a projection, not a fact.
Why this matters
This isn't really a story about a rebrand. It's a story about what people actually want from a crypto wallet.
Coinbase tried to convince users their wallet should double as a social network. Users didn't buy it, they kept showing up to trade and nothing else. So Coinbase followed the signal instead of forcing the vision. Base stays infrastructure, the wallet goes back to one job.
The bigger prize, the actual $BASE token, is still on the table. Just not here yet.
#Base

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Nhưng giá không phải là câu chuyện. Điều quan trọng nằm ở phía sau nó: doanh nghiệp đứng đằng sau.
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