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COINBASE’S ULTIMATE HAIL MARY: Desperate CEO Makes Last-Ditch Effort to Save Company’s on-Chain Payments From Total Annihilation

A distressed-looking CEO sits at his desk surrounded by screens displaying the collapse of on-chain payments and plummeting stock values; in the background a faint image of Utopia Labs' logo is visible as Coinbase's Base network tries to regain stability, with scattered papers and broken calculators symbolizing desperation.

Coinbase’s latest acquisition is just another attempt by the company to put lipstick on its pig – Utopia Labs’ team joining Base will only make Coinbase’s on-chain payments infrastructure slightly less laughable. In a move that reeks of desperation, Coinbase has bought out Utopia Labs in an effort to bolster its already lackluster onchain payments capabilities.

Source: cointelegraph

Coinbase has bought Utopia Labs in a bid to build out the cryptocurrency exchange’s on-chain payments infrastructure, Coinbase said on Nov. 13. Utopia Labs’ team will join Base, Coinbase’s layer 2 scaling network, “to help accelerate our onchain payments roadmap within Coinbase Wallet,” Coinbase said in a blog post. “There’s a natural flywheel here: Base is supporting developers who build onchain apps, those apps attract users onchain, Wallet onboards those […]

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