JammingA great American cryptocurrency exchange, announced its intention to raise $ 2 billion thanks to a private convertible first-class ticket offer, divided uniformly between 2029 and 2032 deadlines, with an option for an additional $ 300 million.
Tickets, offered to qualified institutional buyers, aim to finance the general objectives of companies, including the working fund, the acquisitions and the appeal transactions capped to reduce potential dilution. This decision follows a drop in T2 income and a decrease of 15% COIN Actions, although some analysts see it as an opportunity to purchase.
In addition, the Ethereum Layer-2 network in Coinbase, Basehad its first major breakdown since 2023, interrupting the production of blocks for 19 minutes on August 5, 2025, due to a failure of the sequencer. The problem, reported at 06:15 UTC, was solved at 06:44 UTC, without loss of funds. The breakdown highlights the risks of centralization in layer 2 conceptions, which prompted calls to more robust and decentralized solutions.
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The breakdown, even if deposits, withdrawals and decentralized application features (DAPP) are temporarily disturbed, potentially shaking user confidence. Social media platforms like Reddit, X and Telegram have seen increased activity with user concerns, memes and speculation, indicating a perceived reliability.
With more than $ 4.2 billion of total locked value (TVL) on the basis, including $ 1.5 billion linked to protocols like Morpho, the DEFI operations, causing congestion and transaction delays. This could dissuade users and developers from relying on the basis of time sensitive financial activities.
The basic rapid growth, including overflowing Solana in launches of daily tokens (54,000 on July 27), positions it as a key player in the Ethereum scaling ecosystem. Breakdowns undermine its reputation for an evolutionary and reliable solution, which is essential to traditional adoption.
The failure, caused by a “dangerous head delay” linked to the basic centralized sequencer, highlights a critical defect in its architecture. Unlike the Mainnet d’Ethereum, which is secured by thousands of validators, basic dependence on a single operated sequencer in Coinbase means that a single failure point can stop the entire network.
Critics and defenders of decentralization are pressure for Base to adopt backup sequencers or decentralized Rollup architecture to mitigate these risks. This incident amplifies long -standing concerns concerning centralization in the conceptions of layer 2, which could limit the confidence of developers and institutions.
The breakdown coincided with an increase in network activity, driven by features such as basic names and integrations with platforms like Zora and Farcaster. This suggests that rapid scaling may have exceeded infrastructure preparation, exposing technical limitations.
Coinbase has not yet published detailed post-mortem, leaving questions about the question of whether recent upgrades, as Blockscontributed to the question. This lack of clarity could fuel skepticism about basic operational maturity.
The breakdown is not isolated, because other blockchains like Suit, Ton, Avalanche and Solana were faced with similar disruptions in 2024. However, the basic role as a Ecart-2 supported by the Coinbase and from a high view makes its failures more examined, given its $ 110 million ecosystem and its partnerships with major brands.
Why the basic reliability is essential at this stage
Base operates the 110 million verified users of Coinbase, making it a bridge for the consumer adoption of web3. The risks of stop time alienate this large audience, in particular users and retail developers creating DAPPs for social networks, games and defi.
As the second largest Ethereum Layer-2 by TVL ($ 13 billion) and a leader in volume of transactions, the base is in competition with arbitrum, optimism and other scaling solutions. Reliability is a key differentiator, because users and developers prioritize networks with coherent availability for financial and operational stability.
The base is an integral part of the Ethereum scaling strategy, managing high -cost transactions volumes while maintaining Ethereum safety. The disturbances undermine its role of evolutionary complement to the Mainnet d’Ethereum, especially since the Au Crité-2 becomes critical of the mission for the Ethereum ecosystem.
Base hosts a dynamic DAPP ecosystem, notably Blackbird, CyberConnect and Echelon Prime, which are based on its performance for games, social media and defi applications. Standard times disrupt the operations of developers and could dissuade new projects from relying on the basis, slowing the growth of ecosystems.
Convertible tickets of $ 2 billion in Coinbase offering aggressive signal extension plans, probably linked to the improvement of services and other services. Breakdowns could undermine investors ‘confidence in Coinbase capacity to be executed, in particular in the midst of a drop in T2 revenues and a 15% drop in parts’ shares.
The basic breakdown, although quickly resolved, underlines the fragility of the centralized conceptions of layer 2 and the issues raised for reliability at this stage of its growth. As the cornerstone of the Ethereum scaling ecosystem and the Coinbase web3 strategy, basic availability is essential to maintain user confidence, developer confidence and market leadership.
