UPS

Coinbase founder: Thank you to the Trump administration, paying tribute to crypto startups that went bankrupt due to inability to afford legal fees

ChainCatcher message, Coinbase founder stated, "Thank you to the Trump administration for winning the election and for the departure of the SEC's aggressive chairman Gary Gensler, who, along with Elizabeth Warren and some followers in Congress, orchestrated this illegal act.I believe we will win this case in court regardless, as our facts are so strong, but it undoubtedly accelerated this process and pushed for accountability. I pointed out the SEC's suspicious behavior as early as 2021, and I believe this comment has proven to be prescient. I want to give special recognition to all the other crypto companies fighting the SEC through litigation (we are clearly not the only ones). I want to especially honor those crypto startups that went bankrupt due to the inability to afford legal fees; although your companies may be dead, the crypto industry still exists.Do not stop building. I want to give special recognition to all the Democratic and Republican lawmakers working hard to ensure that the U.S. remains a leader in the crypto space. I know that Gary Gensler and Elizabeth Warren do not represent the entire Democratic Party. Finally, I want to give special recognition to all American crypto holders who support pro-crypto candidates; you have ensured that your rights are protected. It turns out that crypto voters are real, and they show up in the millions.I expect we will continue to maintain a positive collaboration with the SEC in various matters in the future, just as we do with other agencies in every country and region where we operate globally. I look forward to reforms at the SEC under the leadership of Paul Atkins, Mark Uyeda, Hester Peirce, and DOGE, welcoming more rational leaders.I also commend the new leadership for working to correct this mistake—this is a great step in the right direction and requires courage. Now, let’s push for the U.S. to enact crypto legislation, clarify the rules, and truly kickstart the next phase of building."

The Base protocol leader and several Ethereum developers and L2 leaders support based rollups

ChainCatcher news, according to Cointelegraph, Jesse Pollak, head of the Base protocol, recently stated in a conference call with Ethereum founders and developers that based rollups are "a flexible and powerful tool that will allow us to use them for Base, bringing it closer to Ethereum and increasing the security guarantees it provides."Ben Jones, a director at the Optimism Foundation, added that based rollups will improve collaboration between the Ethereum base layer and L2.Ethereum L2 networks (such as Arbitrum, Optimism, and Base) have charged hefty fees by deploying high-speed, centralized sorters (i.e., the order of transaction processing and addition to blockchain blocks), but this comes at the cost of unification.Based rollups, proposed by Ethereum core developer Justin Drake in March 2023, return this process to the base layer, improving the decentralization of the network, as the block building process will be executed by all Ethereum validators rather than a single centralized sorter.At the same time, native rollups will enhance the way transactions are executed on the base layer, making the network more composable.However, these L2s will forfeit a significant portion of their revenue gained through maximum extractable value. Data from Dune Analytics shows that Arbitrum, which supports the transition to based rollups, has generated $210 million in revenue from its centralized sorter, while Base's revenue stands at $96.2 million.It is worth noting that based rollups or native rollups may bring more revenue to Ethereum's base layer and positively impact the price of ETH. However, the decentralized sorting of the Ethereum base layer means that transactions will be confirmed within 12 seconds, rather than the approximately 1 second typical of many Ethereum L2s. Several Ethereum L2 leaders also support the deployment of "FABRIC," an infrastructure that supports based rollups.Daniel Wang, CEO of Ethereum L2 Taiko, stated that the protocol is willing to adopt the FABRIC standard to "address" Ethereum's interoperability issues, saying, "We have been waiting for the FABRIC standard so that we can work together and provide a complete solution."
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