Base’s social bet left it trailing in prediction markets and perps: Pollak

Jesse Pollak, Base creator, admitted he was "definitively wrong" in betting on social experiences to drive crypto adoption and is stepping back from leading Base App, returning leadership to Coinbase under Jordan Fish. Pollak acknowledged Base fell behind in prediction markets and perpetual futures, shifting focus to financial applications like trading and payments. Coinbase CEO Brian Armstrong also acknowledged earlier missteps on content coins, prompting a strategic pivot.