Jesse Pollak Takes the Helm of Coinbase Wallet

Jesse Pollak, the development team lead behind the Coinbase-incubated Ethereum Layer 2 network Base, is stepping up to lead the crypto exchange’s web3 Coinbase Wallet.

Pollak posted late Monday that Base and Coinbase Wallet “share the same north star” — aiming to simplify onchain access and connect users to web3 apps across the ecosystem. “I’m so excited to work even more closely with the wallet team and to keep leading the Base team,” he said. “Now, we’ll be able to collaborate more closely to make this happen.”

Base will “continue to uphold its core values of being for everyone, a bridge not an island, and decentralized and open source,” noted Pollak, who also leads the Coinbase protocols. “Coinbase Wallet will continue to engage with the entire onchain economy, and we’ll start the work to embody the other Base values in even more ways,” he added.

Launched in August 2023, Base is an optimistic rollup that processes transactions off the main Ethereum blockchain, periodically posting transaction data on-chain. This method increases throughput and reduces costs. Last week, Base’s total value locked surpassed $2 billion for the first time, making it the second-largest optimistic rollup by deposits after Arbitrum.

Originally called Toshi when it launched in 2017, Coinbase Wallet is a non-custodial crypto wallet that enables users to manage and store digital assets independently. Initially focused on the Ethereum ecosystem, it has since expanded to multiple blockchain networks, including Bitcoin, Solana, and BNB Chain.

Pollak confirmed he is also joining Coinbase’s executive team on Monday. “I’m really excited to take on this new mandate and to accelerate our mission of bringing a billion people and a million builders onchain,” he said.