The tweet was deleted by the author.
But we saved everything 🙂.
Mason Nystrom argues that launching a token for Base would be a mistake.
According to Nystrom, for Base to have real value, Coinbase would need to allocate sequencer revenues to a potential Base token. However, if Coinbase took this step, the company would forgo all revenue generated by Base, which at one point was a $100 million line item business and could reach that scale again.
Nystrom has previously highlighted growth opportunities for crypto-linked assets. He argued that tokenized equities onchain could grow 100x if a small fraction of the S&P 500 transitions to blockchain. In another note, Nystrom pointed out that major crypto sectors like bitcoin and stablecoins remain active despite negative narratives.