[Coinbase CEO Publicly Admits Failure of Base Creator Token Strategy] According to The Defiant, Coinbase CEO Brian Armstrong publicly admitted on the X platform that the Base network's over-a-year-long creator 'content token' strategy has failed, stating that the network 'pivoted away from this strategy earlier this year.' In response to a user comment, Armstrong wrote: 'It didn’t work. We pivoted earlier this year. We made mistakes, and it’s time to move on.' The ZORA token, the core platform for creator tokens promoted by Base, has dropped approximately 95% from its all-time high in August last year, with its market cap shrinking from about $800 million to around $30 million.