Jesse Pollak Shifts Base Strategy from Social Media to Global Finance After Major Setback

The world of blockchain keeps changing fast. Jesse Pollak, who built Coinbase’s Ethereum Layer-2 network called , just shared a big update. He admitted that the plan to grow through web3 social tools did not work. Now the team is moving toward global finance instead.

Why the Social Media Bet Did Not Pay Off

Pollak posted on X about the tough first quarter of 2026. He called it a punch in the face. The focus on onchain social apps like Farcaster, Zora, and creator coins fell apart. Pollak said he was wrong about the timing or the whole idea. This left behind in areas such as prediction markets, perpetual contracts, and enterprise tokenization.

New Plan for in 2026

To fix the gap, will now aim to become a top blockchain for global finance. The main goals for the rest of the year are trading, stablecoin payments around the world, and AI agents. Pollak also gave control of the app back to Coinbase. Crypto figure Cobie will lead it to grow outside the network.

Layoffs Hit Base Philippines Hard

This change comes after Coinbase cut 14 percent of its staff in May 2026. The cuts removed teams in Southeast Asia, including the Philippines group. Country lead Eli Becislao lost his role. The local X account now shows it is no longer active.

Before the cuts, Philippines had strong results. It built a builder network of over 15,200 people in 50 cities. It also worked with more than 40 universities and gave out over $150,000 in grants.

What This Means for Crypto Users

The move shows how fast projects must adapt. is now betting on real-world uses like stablecoin payments and AI tools. This could bring more stable growth than social experiments. Users in the Philippines and beyond may see new tools for trading and cross-border money moves soon.

Overall, the shift marks a clear turn for . Time will show if the new focus on global finance brings better results than the earlier social push.