Odaily Planet Daily reported that AJ Warner, chief strategy officer of Arbitrum development team Offchain Labs, published an article on X about Base’s confirmation of issuing a token.

Warner stated that the conflict between COIN and BASE is the most critical issue Coinbase/Base needs to resolve. COIN holders may only be able to access value through holding BASE tokens on Coinbase's balance sheet, making it difficult to imagine a direct airdrop to shareholders. The equity distribution between COIN and BASE must be extremely clear to work. Offchain Labs and Arbitrum have previously navigated similar issues with ARB tokens and Offchain Labs stock, but Coinbase's status as a public company makes this even more difficult.