Base Chain Refocuses on Assets, Jesse Pollak Steps Back
Coinbase's Layer 2 network is shifting priorities toward stablecoins and payments, with new app leadership as the founder steps back from product decisions.
What is Base, and what is a layer 2?
A layer 2 is a network that runs on top of Ethereum, handling transactions cheaply and settling them back to Ethereum for security. Base is the layer 2 run by Coinbase and one of the largest. Arbitrum, Optimism, and others work the same way. The stories below show what layer 2s are used for, and what happens when one closes.
Answer reviewed 2026-10-04
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What Base, the layer 2 run by Coinbase, is focusing on now: stablecoins and payments.
A recent Base upgrade built for companies that issue tokenized stocks.
Base launches Cobalt upgrade with conditional transactions and asset seizure for B20 tokens
Base adds dormant transactions that execute when price or block conditions are met, plus new compliance tools for tokenized stock issuers.
More: The Block · Cointelegraph · Unchained · The Defiant
Layer 2s can add what Ethereum itself lacks. Aztec runs one built for privacy, and its private payments wallet just relaunched there.
Aztec relaunches zk.money privacy wallet on Ethereum L2
The self-custodial privacy wallet hides transactions on Aztec Network while deposits from Ethereum remain visible, restoring privacy tooling for the ecosystem.
More: CoinDesk · The Block · @zk_money on X · Unchained · ETH Daily
Layer 2s can close. Blast is shutting down, and users have until October 26 to move their funds back to Ethereum.
Blast L2 shuts down, users have until October 26 to withdraw via bridge
Once holding $2.3 billion in crypto assets, Blast is winding down after activity faded and costs rose.
More: Bankless · Decrypt · Cointelegraph · Unchained
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- Layer 2s · 153 storiesBase, Arbitrum, Optimism, and the other networks that run on top of Ethereum
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