Base Token: Coinbase CEO Brian Armstrong Refutes the Idea of Base Token In Future

In a recent development, Coinbase CEO Brian Armstrong that crypto exchange Coinbase has no plans to introduce a token for its Layer-2 platform Base. “We’re not planning to make any token for Base,” Armstrong said.

Armstrong Contradicts Coinbase Legal Chief

In a recent statement, Coinbase CEO Brian Armstrong appeared to diverge from an earlier position expressed by Coinbase Chief Legal Officer Paul Grewal. Grewal had previously stated in September that “a token could be viable at some point in the future,” and that they haven’t ruled out the possibility. However, Armstrong clarified that Coinbase currently has “no plans” to issue a token for the Base network.

Armstrong expressed satisfaction with the progress of Base since its launch in August, highlighting its rise to become the third-largest layer-2 platform in terms of total value locked (TVL), boasting around $500 million in TVL. He emphasized the ongoing efforts to integrate Base with various applications and noted the enthusiasm of developers in engaging with the layer-2 solution.

Armstrong expressed the company’s eagerness to position Base as more than just a Coinbase-centric entity, emphasizing its broader scope. He highlighted that Base is constructed on the Optimism stack within the Ethereum ecosystem, underlining the intention to ensure interoperability with the wider crypto community. Armstrong emphasized that while Base seeks to integrate seamlessly with the crypto ecosystem, it will benefit from the full support of Coinbase, providing a sense of stability and trust.

Uplifting the Infrastructure

Armstrong revealed that Base, along with other layer-2 solutions, is integral to an “ambitious” internal stretch goal aimed at achieving an average transaction on Coinbase in “under one second and one cent.” He acknowledged that achieving this target will necessitate enhancements to Base.

Additionally, Armstrong emphasized the strategic shift towards making layer-2 the default option on the Coinbase platform, as opposed to being an occasional choice for users who bridge to layer-2 for specific transactions.

Speaking to crypto publication Decrypt, Armstrong added: “That’s not just with Base. That’s things like integrating the Lightning Network on Bitcoin, it’s integrating other layer-1s that are very fast, like Solana.”

That about 7% of transactions through Coinbase use layer-2, he explained that Coinbase has set itself internal goals to “get that number way up” as part of a “multi-year effort.”

“We need to get it where probably 99% of transactions are happening on layer-2 to get those performance goals of under one cent and one second,” he said.

Likening the shift to layer-2 as being akin to “the internet moving from dialup to broadband,” Armstrong said that “in terms of bringing new applications online I think it’s incredibly important.”

Armstrong added that he’s “pleasantly surprised” to see other crypto exchanges following suit and launching their own layer-2 networks, while suggesting that the industry should consolidate around one or two layer-2 networks.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets.   He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.