Coinbase CEO Walks Back Plans for Base Token, Focuses on Interoperability and Mainstream Layer-2 Adoption
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Coinbase CEO Brian Armstrong says the exchange has no plans to launch a token for its Base layer-2 network, contradicting a previous statement by the company's Chief Legal Officer
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Base has seen rapid growth since launching in August, with $500 million in total value locked and 1 million wallet users
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Armstrong wants Base to be interoperable with the broader crypto ecosystem, not just a Coinbase product
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Getting to under 1 second and 1 cent transactions is an "ambitious stretch goal," requiring shift to making layer-2 the default
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Armstrong welcomes other exchanges launching layer-2s but thinks industry should consolidate around 1 or 2 main ones