Base becomes the primary chain for all financial actions on Coinbase

Coinbase is going all-in on Base. The exchange is building a unified system where every financial action, whether it happens on the main Coinbase platform or in Coinbase Wallet, runs through its Layer 2 network. The move cements Base as what its head, Jesse Pollak, has called “the blockchain for global finance.” The numbers behind the consolidation Base has hit roughly $5.7 billion in total value locked across decentralized finance protocols, an all-time high for the network. The network has also established itself as a leader in stablecoin transfers. Base also accounts for a substantial share of Coinbase’s on-chain activity. The platform has cited the network’s rapid transaction speeds and low fees as core reasons for the consolidation. The Coinbase Wallet pivot One of the more interesting chapters in this story is the Coinbase Wallet rebrand. Coinbase had previously spun the wallet experience out as the “Base App,” an experiment that tried to position the wallet as a social-first product tied directly to the Base network’s identity. That experiment ran for about a year. It didn’t work. On September 10, Coinbase reversed course and brought the product back under the Coinbase Walle...