SFM @SFMfocus

@AlgodTrading $surplus worth having a look at

@The_Bogfather @ThePumponomics whats the app mate? want that pnl automatic calendar too

@PhilOnChain is it fomo app calendar?

@wizardofsoho $meow??

Why not both?

@AlgodTrading @FloodCapital they control the supply after the whole SYN CX conversion thing

3 days ago jesse posted a long thread admitting he was “definitively wrong” about social. said he’s handing the base app to cobie. said he’ll focus on “building base into the blockchain for global finance” he didn’t step down. he still runs base. the same person who launched coins that dumped on his community, promoted a documented scammer, pushed a strategy everyone told him was failing for 18 months, posted “base is for pimping,” ignored the community’s feedback at every turn, and oversaw two chain outages: he is still in charge he just gave the app to someone else. he still controls the chain. the infrastructure that every builder and trader on base depends on is still run by the same person who just spent 2 years proving he doesn’t listen until it’s too late his own words: “the collateral damage was pretty bad.” he’s right. it was. and it was entirely avoidable if he’d listened to the people using his chain instead of experimenting on them the pattern base is for everyone → $17M to $1.9M in 20 minutes jesse coin → snipers extract $1.3M, regular users dumped on soulja boy promotion → documented scammer amplified by chain lead content coins → 99.8% volume decline, zora leaves for solana base app → “shipped features users never asked for” $BRIAN pfp → CEO changes pfp, 10K+ holders go to zero $VIRTUAL → biggest base token ignored by coinbase for over a year chain outages → twice in 10 months, single point of failure base token tease → community farmed for months, no token delivered farcaster → valued at $1B, sold community feedback → ignored for 18 months until the data was catastrophic at some point you stop calling it mistakes and start calling it a pattern. at some point “we messed up, time to turn the page” isn’t accountability, it’s a cycle. mess up, say sorry, promise to do better, mess up again, say sorry again the community wasn’t wrong. the community was early. they told base exactly what was happening and base didn’t listen until everyone had already left trade on base if you want. but don’t say nobody warned you 3/3

$VIRTUAL, their biggest token, ignored for over a year $VIRTUAL was the biggest success story base ever produced. AI agent meta leader. hit $5B mcap. kraken listed it. binance listed it. coinbase (the company that owns the chain $VIRTUAL was built on) didn’t list it until april 2026. over a year after it launched. by then the token had crashed 87% from ATH. their own chain’s most important project and they treated it like it didn’t exist. $BRETT holders still waiting too. virtuals got so fed up they expanded to solana in january 2025, abandoning base exclusivity because their own chain wouldn’t support them content coins, the entire 2025 strategy that destroyed people base pushed zora content coins as the future of onchain social throughout 2025. they rebranded coinbase wallet as the “base app” and baked zora coin tools into a social feed. 1.6M tokens launched. $470M in volume. base briefly passed solana in daily token launches. looked like it was working then it all collapsed. nick shirley’s coin dumped 80% in 48 hours. zora’s own token crashed 95% from ATH. daily trading volume on zora dropped from $63M at peak to $112K, a 99.8% decline. daily coin creation went from 118,000 to 852. zora then pivoted to solana entirely, abandoning the chain they helped build brian armstrong publicly admitted “they didn’t work and we messed up.” jesse called it “a punch in the face” and said “the collateral damage was pretty bad” and described 2026 as “an exercise in eating sh**” the CEO and the head of the chain both publicly admitted the strategy they pushed for an entire year was a failure. after everyone already lost money. not before. after the community screamed. they didn’t listen this is the part that makes it unforgivable. the community told them. builders told them. traders told them. for months. creators told base the content coin model wasn’t working. developers reported feeling “unsupported and gaslit by base management.” builders said coinbase competed with its own ecosystem, favoring insiders and ex-coinbase employees over the projects that actually bootstrapped the chain people begged them to focus on trading, on perps, on the stuff that was actually working. base ignored all of it because jesse was “experimenting in public” and believed social was the future. the community watched polymarket, hyperliquid, and jupiter eat base’s potential use cases while base was pushing tokenized tweets they didn’t pivot until the data was catastrophic and the trust was already destroyed. not when the community asked. when the community had already left. there’s a difference between “we listen to feedback” and “we eventually admit we were wrong after ignoring feedback for a year and a half” the base token tease september 2025, jesse announced base was “beginning to explore” a native token. the entire ecosystem started farming. people deployed on base, traded on base, built on base: all anticipating an airdrop that never came. months of free labor for coinbase with zero reward. by the time it was clear no token was coming, the farmers had already subsidized base’s growth metrics for quarters the chain goes down. twice august 2025: base went down for 33 minutes. single sequencer failure. june 25, 2026: base went down for over 4 hours. a single invalid block broke the entire chain. no blocks produced. deposits, withdrawals, all frozen. the single-sequencer design means one operator can take the whole chain offline. two major outages in 10 months on the infrastructure they want you to trust with “global 24/7 finance” farcaster collapsed. zora left farcaster, once valued at $1B and deeply integrated with base’s social vision, was sold. zora pivoted to solana. the two projects at the center of jesse’s entire thesis for base both abandoned ship. the foundation of the strategy didn’t just fail, it actively left for a competing chain jesse’s “accountability” 2/3

whenever you think of trusting base, remember this thread jesse pollak’s coins the head of base used the official coinbase X account to promote “base is for everyone” on zora. it spiked to $17M mcap in an hour. crashed 90% to $1.9M within 20 minutes. people thought it was an official base token. jesse said it was “an experiment” and that he “personally approved the post” months later he launched his own JESSE token through the base app. called it a “creator coin, not a memecoin.” two snipers extracted $1.3M from it within seconds of launch. the token peaked at $25M and dumped. $50M in volume flowed through it and the regular users who trusted the head of base got sniped by bots while he collected LP fees he then used those LP fees to buy other creator coins on zora. so the fees generated from his community getting sniped went to propping up more creator coins that also dumped him and brian promoted tokens linked to balaji srinivasan and other figures. all crashed. one critic pointed out “the same users kept eating the downside on team-promoted tokens.” nobody at base adjusted he endorsed a soulja boy token, a person zachxbt publicly documented running 73+ token promotions, 16 NFT collections, most of them rugs or abandoned, earning $730K+ from paid crypto scams. jesse invested $1,500 and promoted it publicly. zachxbt’s report was from 2023. it was public. the head of base either didn’t bother to check or didn’t care he shared a GIF playing on “base is for everyone” that rotated through the phrases “base is for pimping” and “base is for squirting.” had to publicly apologize. the guy running a coinbase-backed chain, a publicly traded company, posting this to hundreds of thousands of followers after all of this he said base won’t “pump tokens” or “support the chart behind the scenes.” the same person who launched multiple coins that dumped on his community won’t help yours. his charts get LP fees. yours get abandoned the $BRIAN disaster brian armstrong, CEO of coinbase, $50B+ publicly traded company, changed his pfp to a $BRIAN memecoin. 10,000 people bought in. the CEO of the chain is backing it: what could go wrong? he removed the pfp 23 hours later. coin went to zero. 10,000+ people down 99% after trusting the literal CEO 1/3

@krugman87 I’m not looking for conviction, but many readers would appreciate to see the rationale behind such a view me including; surely u r not obliged to

@flewTrades @XenBH @getberryapp @BerryFiBase perhaps because they've claimed they've received investment from Base and they haven't? A complete lie trying to maxx extract

@XenBH @getberryapp @BerryFiBase @XenBH you're a complete retard & either low on morale or intellectually lazy you announced investments, linked a scam account, left it for 18h even while people were flagging it was fake; in US law staying silent after being put on notice is its own act of deception

@krugman87 no,i have strong critical faculty ,interested to know whether there's actually strong underlying thesis behind your public claims or that's just that and am bullish on dispersion w good alts, eth / btc here

@BickerinBrattle within long enough horizen crash is always a given but why not keeping an open mind & focus on price in the months before? market is wrong am not dont make money

@BenKizemchuk not discrediting your competence & knowledge & as I said always appreciate the writings but ignoring the markets strength which has been objectively just brings those question marks above

@BenKizemchuk I've been following market updates & you clearly stated in Nov last year you went 50% cash & in Dec exited global growth risk expecting min 15-35% prolonged correction; SPX saw a correction from this lvl of around 5% & being up 11% since Dec/ bouncing around 17% from April

@BenKizemchuk the pain trade was clearly higher which was a miss; at this stage surely each dollar higher is worth hedging downside as the meat of the move is arguably largely captured. But pulling numbers before on each risk expansion trying to tell the market is wrong just looked like coping

@BenKizemchuk Hi Ben, I appreciate your writings,was aligned with you last year which yielded well. When you took a bearish stance all i could see is extremely skewed bearish doomerism trying to shoehorn your bias and find justifications while Risk has had one of the best V shape recoveries