[Coinbase Establishes 'Next Bets' Internal Venture Capital Program] According to a report by Jinse Finance on March 31, Coinbase CEO Brian Armstrong revealed in an interview that the company has established an internal venture capital program called 'Next Bets' to prevent the loss of good ideas and top talent. The program opens for proposals twice a year, allowing employees to pitch their projects directly to a review panel composed of product leaders. As long as any one leader provides funding support, the project can be initiated and advanced, operating similarly to an internal venture capital model. Brian Armstrong added that the mechanism was inspired by the case of Steve Wozniak leaving Hewlett-Packard to co-found Apple after his ideas were not supported, aiming to avoid the loss of outstanding creativity and talent. 'Next Bets' is typically driven by small teams of 2 to 3 people, with relatively small funding but focused on high-potential, innovation-driven directions that can tolerate failure. It is reported that the Base blockchain project originated from this program, and new project updates will be announced in the coming weeks.