Coinbase-Backed Base Faces Scrutiny After Controversial Contentcoin Promotion

Ethereum layer-2 network Base has become the center of controversy following its promotion of a contentcoin on social media platform Zora. The Coinbase-backed project’s promotional post, which featured the tagline “Base is for everyone” and linked to a token with the same name, sparked interest in the token and led to a surge in its market cap before a subsequent sharp decline. This incident has sparked criticism of Base from within the crypto community, who see it as damaging to the industry’s reputation.