Dispute on Base Chain Escalates as Cobie Responds to User Trust Issues
Crypto KOL Rune questioned Cobie's takeover of the Base App aimed at promoting on-chain transactions, but the Base management continues to undermine user trust, making it difficult for users to believe in related projects long-term.
Cobie acknowledged the distance between Coinbase and native crypto users, stating that Base had previously overdrawn trust due to avoidable mistakes, and expressed intentions to listen more to on-chain voices and create practical products, but emphasized that he is not responsible for the Base chain itself.
Rune further pointed out that over 10,000 Base users suffered approximately 99% asset losses due to trust issues with the management, believing that while the Base infrastructure is excellent, it lacks responsible leadership, and community trust has nearly completely eroded.
Source: Public Information
ABAB AI Insight
Cobie has been an active community figure as a well-known crypto trader and analyst, participating in multiple project discussions; Base has rapidly grown since its launch as Coinbase L2 but has faced multiple controversies regarding fees, stablecoin integration, and user incidents.
On the capital front, the controversies have led to asset outflows and decreased on-chain activity, with funds shifting to other Layer 2s or self-custody solutions. Coinbase, through adjustments like Cobie's involvement, is attempting to restore trust to recover TVL and trading volume, motivated to solidify Base's position in the DeFi and meme coin ecosystems.
Similar to Solana's recovery after multiple outages and trust crises in its early days, Base is currently in a transitional phase of user loss and leadership adjustments, and whether its infrastructure advantages can translate into community loyalty remains key.
Structural Judgment: Essentially, this belongs to regulatory changes and capital concentration, with the trust crisis accelerating the shift of capital from centralized tendencies towards more decentralized or transparent projects. The mechanism is that user asset loss events have amplified governance deficiencies, leading to liquidity and developer resources concentrating towards competitors.
ABAB News · Law of Cognition
No trust means no users, regardless of how strong the infrastructure is.
Hurt a user once, lose trust for ten years.
On-chain culture only recognizes results, not excuses.