Advertisement
U.S. markets closed
  • S&P 500

    5,137.08
    +40.81 (+0.80%)
     
  • Dow 30

    39,087.38
    +90.99 (+0.23%)
     
  • Nasdaq

    16,274.94
    +183.02 (+1.14%)
     
  • Russell 2000

    2,076.39
    +21.55 (+1.05%)
     
  • Crude Oil

    79.81
    +1.55 (+1.98%)
     
  • Gold

    2,091.60
    +36.90 (+1.80%)
     
  • Silver

    23.34
    +0.46 (+2.01%)
     
  • EUR/USD

    1.0839
    +0.0032 (+0.29%)
     
  • 10-Yr Bond

    4.1800
    -0.0720 (-1.69%)
     
  • GBP/USD

    1.2655
    +0.0029 (+0.23%)
     
  • USD/JPY

    150.0640
    +0.0800 (+0.05%)
     
  • Bitcoin USD

    62,087.15
    +623.25 (+1.01%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,682.50
    +52.48 (+0.69%)
     
  • Nikkei 225

    39,910.82
    +744.63 (+1.90%)
     

Brian Armstrong: Coinbase “Not Planning” To Launch Native Token for Base Network

Brian Armstrong: Coinbase “Not Planning” To Launch Native Token for Base Network
Brian Armstrong: Coinbase “Not Planning” To Launch Native Token for Base Network

According to Decrypt, Brian Armstrong, the CEO of Coinbase, has confirmed that the cryptocurrency exchange has no plans to introduce a token for its layer-2 network, Base. This statement contradicted earlier comments made by Paul Grewal, Coinbase's Chief Legal Officer, who had suggested the possibility of a Base token in the future.

Armstrong expressed satisfaction with the progress of Base since its launch in August. Within a short span of time, Base has emerged as the third-largest layer-2 network in terms of total value locked (TVL), boasting around $500 million in TVL and over one million wallets interacting with the network.

While Base operates on Ethereum's Optimism stack, Armstrong stressed the aim of fostering a more inclusive community effort rather than keeping it exclusive to Coinbase. He underscored the importance of interoperability with the wider crypto community and reiterated Coinbase's commitment to supporting and ensuring stability for Base.

While Armstrong welcomed other exchanges exploring their own layer-2 networks, he questioned the necessity for each application to have its own network. He suggested that consolidating around one or two layer-2 networks could be more advantageous for the industry as a whole.

Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.

Advertisement