% 1.51
BTC Dominance:
% 0.10
Market Cap:
$2.29 T
% 0.46
Fear & Greed:
65 / 100
$ 63.863
BTC Dominance:
% 54.2
Market Cap:
$2.29 T

Coinbase CEO Says No Token For The Base Network!

Coinbase CEO, Brian Armstrong, announced that there are no plans to release any token for the layer-2 network Base. Despite the previous statements of the company’s Chief Legal Officer Paul Grewal, Armstrong stated, “This is not something we completely ignore,” but a Coinbase spokesperson confirmed there is no plan.

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Coinbase CEO Armstrong said he was pleased with the progress made since the Base’s August launch. In terms of total locked value (TVL), layer-2 has become the third largest in recent months. Armstrong stated, “There is about 500 million dollars in TVL, which is really good” and added “a million wallets have interacted with the chain”.

Armstrong said that developers are working on integrating with layer-2 and they are “very excited” about it. Layer 2 is a cryptocurrency network that performs transactions faster and at a lower cost.

Coinbase’s adoption of layer-2 can increase more users’ interest in this technology in the crypto world. Armstrong expressed his “satisfaction with developers adopting layer-2,” highlighting the advantages brought by this technology.

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