Coinbase CEO: Base Will Not Have its Own Token
During an interview with Decrypt, Brian Armstrong, head of the trading platform Coinbase, stated that the company has no intentions of creating a token for its Base L2 network.
This aligns with the statement made by Coinbase’s chief lawyer, Paul Grewal, in September, allowing the possibility of releasing a token in the future.
However, in that same month, a message was posted on Base’s social media platform, X profile, affirming that there are no plans to issue a network token.
This sentiment was echoed by the project developers, who have consistently stated that the L2 solution does not involve the creation of a token, with ETH being used for transaction fees instead.
Despite this, Coinbase has been pleased with the progress of Base since its launch in August, with Armstrong noting that it has become the third largest L2 solution in just a few months with a total value locked of approximately $500 million.
The company is currently focused on integrating Base with various applications.
