Jeff Dorman claimed that the Coinbase team behind the Base blockchain project will launch its native token in the future and will force all Coinbase ($COIN) stockholders to enter the crypto space.
Jeff Dorman is the Chief Investment Officer (CIO) at Arca, a leading digital asset management firm. With extensive experience in both traditional finance and digital assets, Dorman is known for his deep insights into cryptocurrency markets and blockchain technology. He frequently shares his analysis on trends and investment strategies in the crypto space.
On 19 Oct 2024, Jeff Dorman shared his opinion on the future possibilities of the Base blockchain network in response to a tweet about the Base blockchain and Coinbase ($COIN) stock.
Dorman said that in the future, at some point, Coinbase will launch a Base token on the Base blockchain network and issue dividends to each $COIN stockholder. However, they will wisely take steps so that they can indirectly force all the non-crypto $COIN stockholders to create a crypto wallet on Coinbase to claim dividends.
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This prediction seems to hold some truth for the future because, in the past, every blockchain network launched native tokens—some with the network launch and some after the adoption of their network.
Base Token & Crypto Scam
Currently, 3-4 $Base tokens are trading in the crypto space, intending to show affiliation with the Base blockchain network. Some of the tokens have trade volumes in millions+.
However, the Coinbase team has no plans to launch any cryptocurrency, but some bad actors are taking this as an opportunity to make money through fake Base tokens.
In the initial days of the Base network launch, many meme tokens on the Base network were launched and gained popularity, but their names were misleading, e.g., Coinbase Pepe (CPEPE), BaseDoge (BDOGE), BaseShiba (BSHIBA), CoinBase Inu (CBINU), etc.
Read also: ED records Tamanna Bhatia’s statement in $HPZ crypto token scam