Not a big fan of how @coinbase and @base operate. To them, crypto isn’t an industry that needs real support and growth—it’s just something they can leech off of. Case in point: they’re selling the ETH fees generated by Base. Here’s the situation: The ETH fees generated by the Base sequencer? They’ve sold almost all of it, keeping their ETH holdings stuck at around 150,000 ETH without much change. And this isn’t the first time. Over the past few quarters, this has basically been their playbook: Base earns them ETH, and then they cash it out. They’ve benefited from Ethereum’s users, liquidity, and ecosystem, making a lot of money, but on the capital side, they’ve chosen not to align deeply with ETH. So, for Ethereum L1, it’s necessary to charge L2s like Base a reasonable fee (the current fee ratio is way too low) instead of letting them freeload off the security that Ethereum’s community has collectively built over the past 11 years. Ethereum ecosystem developers and users should consider supporting L2s like Robinhood and lighter instead of L2s like Base. @aerugoettinea @ethlabs_org @fundstrat @VitalikButerin @ethereumfndn @sassal0x @barnabemonnot