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THE HASH: Coinbase Gears Up For Public Launch of 'Base' Layer 2 Blockchain; Patreon Payout Concerns

CoinDesk Podcast Network

CoinDesk

News, Daily News, Tech News, Business News

4.7698 Ratings

🗓️ 3 August 2023

⏱️ 24 minutes

🧾️ Download transcript

Summary

The most valuable crypto stories for Thursday, August 3, 2023. "The Hash" tackles today's hot topics, including Coinbase announcing that Base, its layer-2 blockchain built with Optimism's OP Stack, will open to the public on Aug. 9. Five tokens linked to Alameda were pumped by Twitter bots after FTX listed them, according to a research report. Patreon is investigating an issue with payouts. And, an update on the multi-million-dollar exploit of crypto exchange Bitfinex. See also: Coinbase Sets Public Launch of ‘Base’ Layer 2 Blockchain for Next Week Alameda-Linked Coins Pumped by Twitter Bots After FTX Listing, Report Shows Patreon, Platform for Creators, Disables Payouts After ‘Issue’ With Payoneer System New York Resident Ilya Lichtenstein Admits to Being Bitfinex Hacker in Court Appearance: CNBC This episode has been edited by senior producer Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0

This is the hash podcast. Stay informed with the latest on Bitcoin, Eith, the Metaverse, Web3, and more.

0:15.7

All on the hash for your ears. You're listening to the Coin Desk Podcast Network. Hello and welcome to CoinDest

0:25.8

TV. I'm Will Foxley, your host for today. Join alongside Zach Seward, Danny Nelson, and David Z.

0:31.2

Morris. You're watching us or listening to us on the Coin Desk Podcast Network. Either way,

0:35.6

give us a thumbs up or a like or drop a comment.

0:38.2

We'd love to hear from you guys.

0:39.6

A lot of great stories to start the day.

0:41.5

We're going to talk about Coinbase, which is moving forward with base.

0:44.6

It's Layer 2 proposal built on top of the Opimism OP stack.

0:49.5

Base is a new way to build on chain.

0:53.1

Coinbase is pushing forward with this idea of on-chain

0:55.5

summer, bringing in huge brands like Coca-Cola, Atari, and other groups like OpenC,

1:00.8

in order to build more applications on-chain. They first launched this in July for developers,

1:06.6

are now opening up to the public this month. I've already seen a few different things happening with

1:11.4

base, notably the bald token, a meme coin, which took off just last week and developed into

1:16.9

a $100 million market cap token in short order and then quickly fell apart. A lot of development

1:23.8

for this story. Zach, I'm going to throw it to you, first of all, talk about bald,

1:32.0

base, and a lot of everything's happening with the optimism stack. Wow, there's so much to go on here. First of all, yeah, optimism looking pretty good in terms of the scaling solutions

1:36.5

out there, racking up some key wins of which base is a good one. Bald, we talked about yesterday

1:41.2

and the potential Alameda-linked shenanigans that some breadcrumbs

1:45.5

on chain suggest could be at play. And yeah, on chain summer, man. I mean, that's a bit aspirational

1:51.9

for sure. But I think L2s and roll-ups are very much part of the conversation right now in the

...

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