2 months ago
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Tyler Warner
Thu, July 16, 2026 astatine 7:03 AM CDT 4 min read
Morning Minute is simply a regular newsletter written by Tyler Warner. The investigation and opinions expressed are his ain and bash not needfully bespeak those of Decrypt. And cheque retired our caller regular quality amusement covering each of the apical stories successful 5 minutes, downloadable connected Apple Pod oregon Spotify.
GM!
Today's apical news:
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Crypto majors autumn aft aboriginal week rally; BTC astatine $64.2k, ETH dependable astatine $1,885
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ETFs spot much inflows with $108M for BTC and $54M for ETH
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Jesse Pollak hands Base App implicit to Cobie, says helium was incorrect astir contented coins
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Ostium exploited for $18M successful DeFi's latest onslaught
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Trump expected to conscionable with Senator contiguous to speech Clarity Act morals provisions
🔵 Base Hands Its App to Cobie arsenic Jesse Pollak Admits "I Was Wrong" connected Social
Jesse Pollak, the Coinbase enforcement who has been moving the Base blockchain, handed the user Base app backmost to Coinbase and gave it to the infamous trader Cobie. Cobie joined Coinbase aft it acquired his onchain fundraising level Echo, and Pollak says he's present focused connected the Base concatenation itself alternatively than the app.
In his announcement post, Pollak said his 2024-2025 strategy rested connected 2 bets: that builders would thrust adoption and that maturation would travel from onchain social. While helium stands by the first, helium flatly admitted the 2nd was wrong. The societal country helium championed, Farcaster, Zora, miniapps, and creator coins, has successful his words "disintegrated completely," leaving Base trailing rivals successful perps, prediction markets, tokenization, and payments. He closed with a nationalist apology: "hopefully we tin unopen up astir contented coins now. one was incorrect and i'm sorry." That apology echoes Brian Armstrong's comments from earlier this week erstwhile helium said Base "messed up" connected contented coins.
Base Creator Jesse Pollak Steps Back From App Leadership After Admitting Social Bet 'Was Wrong'
Pollak present wants to physique Base into "the blockchain for planetary finance," arguing that the operation of crypto, stablecoins, perps, prediction markets, and tokenization tin bring a cardinal radical onchain. He acceptable trading, payments, and agents arsenic Base's 3 priorities for 2026.
As for Cobie, helium volition beryllium liable for trading products astatine Coinbase (CB app / Pro / Baseapp). And he's got his enactment chopped retired for him. He faces contention connected aggregate fronts: 1) CEXs similar Kraken, which are bare for maturation up of imaginable IPO, 2) memecoin apps similar Pump Fun and Fomo who person hundreds of thousands of users, 3) Robinhood itself, which offers competing products and made a large splash onchain this past week, and 4) Kalshi, which is increasing its prediction marketplace into the perps space. He's facing an uphill conflict to accidental the least. But if anyone successful crypto is capable, Cobie mightiness beryllium the azygous champion bet…
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