Coinbase CEO Denies Plans for Base Token
In a recent statement, Coinbase CEO Brian Armstrong contradicted the earlier position expressed by Coinbase Chief Legal Officer Paul Grewal. While Grewal had mentioned the possibility of introducing a token for the Base network in the future, Armstrong clarified that Coinbase currently has no such plans.
Base’s Progress and Integration Efforts
Armstrong expressed satisfaction with the progress of Base since its launch and highlighted its rise to become the third-largest layer-2 platform in terms of total value locked. He emphasized ongoing efforts to integrate Base with various applications and noted the enthusiasm of developers in engaging with the layer-2 solution.
Base as an Independent Entity
Armstrong emphasized that Base is not just a Coinbase-centric entity but aims to ensure interoperability with the wider crypto community. While it seeks to integrate seamlessly with the crypto ecosystem, Base will benefit from Coinbase’s support, providing stability and trust.
Improving Infrastructure and Shift towards Layer-2
Armstrong revealed that Base, along with other layer-2 solutions, is integral to Coinbase’s internal stretch goal of achieving faster and cheaper transactions. He also emphasized the strategic shift towards making layer-2 the default option on the Coinbase platform.
Industry-wide Adoption of Layer-2 Networks
Armstrong expressed his surprise at other crypto exchanges launching their own layer-2 networks and suggested that the industry should consolidate around one or two layer-2 networks for greater efficiency.
Hot Take: Coinbase CEO Denies Plans for Base Token
Coinbase CEO Brian Armstrong has stated that there are no plans to introduce a token for the Base network, contradicting an earlier statement by Coinbase’s Chief Legal Officer. Armstrong highlighted the progress and integration efforts of Base, positioning it as an independent entity within the wider crypto community. He also revealed Coinbase’s goal of faster and cheaper transactions through layer-2 solutions like Base. Armstrong expressed surprise at other exchanges launching their own layer-2 networks and suggested industry consolidation. This news showcases Coinbase’s commitment to enhancing its infrastructure and embracing layer-2 technology.
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