Ethereum News Today: Jesse Pollak's $JESSE Token: A Flywheel or Fiasco?

Jesse Pollak, co-founder of Ethereum scaling platform Base, is set to launch his personal creator token, $JESSE, on the Base App on November 20, 2025, marking the latest experiment in the crypto world's evolving creator economy. The token, tied to Pollak's influence and community engagement, aims to embody his vision of a decentralized system where creators retain ownership and control over their work. The launch has already triggered an 8% surge in Zora, the platform supporting Base's creator tokens according to reports, while raising questions about the viability of personal tokens in a market rife with volatility and skepticism.

Pollak, a key figure in Coinbase's expansion into onchain social features, has long advocated for "creator coins" as distinct from speculative "content coins." He argues that creator tokens reflect long-term value, contrasting with short-lived attention metrics. This philosophy underpins $JESSE, which he describes as completing his "creator flywheel" by aligning ownership, control, and revenue between creators and their audiences. However, his track record has drawn scrutiny. In April 2025, a token linked to the Base account "Base is for everyone" spiked to $17 million before collapsing 90% within minutes. A Base spokesperson later clarified the token was automatically minted by Zora, not an official Base project.

The $JESSE launch also highlights broader challenges in the creator-token space. Critics point to Pollak's history of promoting tokens - such as spending 0.3 ETH on meme coins MIGGLES and ANON - only to see their values plummet. While he frames these as "experiments," retail investors remain wary of "pump-and-forget" tactics. "If it's an experiment, it could fail," Pollak acknowledged, echoing a mindset common in crypto's risk-on culture.

Security concerns have further complicated the rollout. Pollak warned users to verify updates solely via his verified X account and Base profile, jesse.base.eth, as phishing attempts are "virtually certain". This caution follows past incidents, including a 2024 Zora-minted token based on one of his tweets that briefly peaked at $120 million before crashing to $8.8 million. The Base App, which will host $JESSE, has positioned itself as a hub for onchain social features and self-custody tools, but its role in mitigating token risks remains untested.

The launch coincides with broader shifts in crypto infrastructure. Base's parent company, Coinbase, recently expanded decentralized exchange (DEX) trading in Brazil, while competitors like Solana grapple with meme-coin frenzies. Pollak's $JESSE could either reinforce Base's appeal as a creator-friendly ecosystem or expose lingering flaws in tokenized community models. For now, the token's success hinges on whether it can transcend the hype cycles that have defined much of crypto's history.