Coinbase and Base have on February 10, 2025, denied allegations that Base was selling Ethereum (ETH) that was earned from sequencer fees, stating that ETH transfers were for security and audit purposes, not for selling

Quotes that support claims

Base clarified that transferring ETH to Coinbase is for security and auditing, rejecting claims that the funds were being sold

A Base team member clarified that the fees were sent to Coinbase for off-chain custody, primarily for 'security and auditing purposes