Coinbase Acquires Iron Fish Team to Enhance Privacy on Base
Coinbase has acquired the core team behind Iron Fish, a privacy-focused blockchain project, to bolster privacy features on its layer 2 network, Base. However, the Iron Fish blockchain and its native token will continue operating independently under the Iron Fish Foundation and will remain unaffiliated with Coinbase or Base.
As part of the acquisition, key Iron Fish developers, including CEO Elena Nadolinski and Jason Spafford, will join Coinbase. They will lead a new privacy-focused team within Base, dedicated to developing privacy-preserving tools for on-chain transactions.
Coinbase emphasized that privacy is a fundamental necessity rather than an option, calling it a “core building block” of blockchain networks. While transparency is a defining feature of blockchain technology, privacy remains a challenge, often exposing transaction details by default. By integrating privacy solutions into Base, Coinbase aims to provide developers with tools to build more secure and compliant decentralized applications.
Nadolinski will continue serving on the Iron Fish Foundation’s board, ensuring the project’s ongoing development and independence.
