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

Odaily Planet Daily News According to Sonic Labs BD/strategist The Assistant published on the X platform, the L2 network Base's sorter profit margin is about 90% (more than $10 million), of which all ETH has flowed into the exchange 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 were $230 million in 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 current prices, it is about $2 million. 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 more than $100 million go? The tweet was retweeted by Andre Cronje, founder of Sonic Labs.