TechFlow reported on March 7 that, according to CoinDesk, Coinbase has acquired the team behind privacy blockchain project Iron Fish to enhance privacy features on its Layer 2 network Base. The deal does not include the Iron Fish blockchain or its native token, which will continue operating independently under the Iron Fish Foundation and remain unaffiliated with Coinbase or Base.
The acquisition brings Iron Fish's core developers, including CEO Elena Nadolinski and Jason Spafford, into Coinbase. They will form a new privacy team within Base to develop on-chain transaction privacy tools. Coinbase emphasized that privacy is not an "optional feature" but a "core building block," aiming to provide developers with tools to build more secure and compliant decentralized applications by directly integrating privacy capabilities into Base.
