Sonic Labs team members publicly questioned the flow of Base sorter revenue, implying that the Base team dumped ETH

Odaily News According to a post published by Sonic Labs BD/strategist The Assistant on the X platform, the profit margin of the L2 network Base’s sorter is about 90% (more than 10 million US dollars), of which all ETH has flowed into exchanges in the direction of Base > Ethereum > Coinbase.
Base was launched on August 9, 2023. According to Coinbase's second quarter report for 2023, as of June 30, 2023, there was $230 million of ETH on the balance sheet at a price of $1,934/ETH, equivalent to 118,924 ETH.

The information shared by the Base team mentioned that only "119,696 ETH" was recorded in Coinbase's fourth quarter 2024 financial statements. This means that since the launch of the Base mainnet, Coinbase has only added 772 ETH to its balance sheet. Calculated at the current price, it is about 2 million US dollars.
It is worth noting that the "cost" formed by Base sequencing fees is 0, because they are not purchased, but earned. At the same time, a few hours ago, the Base team sent nearly 240.35 ETH (worth $618,960.05) to the Coinbase exchange. The question is: where did the remaining $10 billion go?
The tweet was retweeted by Sonic Labs founder Andre Cronje.