Coinbase CEO Brian Armstrong Clarifies No Token for Base Layer-2 Network

Coinbase CEO Brian Armstrong Clarifies No Token for Base Layer-2 Network



In a recent discussion with Decrypt, Brian Armstrong, the CEO of Coinbase, clarified that the company has no plans to issue a token for its Base layer-2 network. This contradicts earlier rumors and a comment by Coinbase's Chief Legal Officer Paul Grewal. Armstrong's declaration is crucial as it reveals Coinbase's strategic direction in developing its layer-2 network and engaging with the wider cryptocurrency ecosystem.



Since its launch in August, Base has experienced significant growth, quickly becoming the third-largest layer-2 network by total value locked (TVL), with approximately $500 million in TVL and a million interacting wallets.



Layer-2 networks, which enhance existing blockchain systems like Ethereum by offering faster and cheaper transactions, address scalability challenges of the base layers. Base's quick rise in this


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#Coinbase, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations

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