$BASE token soon?

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🤑 Coinbase CLO hints at the possibility of Base L2 issuing its own token

According to Coinbase Chief Legal Officer Paul Grewal, the prospect of a new token for the Coinbase-incubated Layer 2 Base has not been ruled out entirely.

When Base launched in August, Coinbase said, "we currently do not plan to issue a new network token." However, it's "not something we've ruled out entirely," Grewal told Decrypt in an interview at Messari's Mainnet event yesterday. "I think a token could be viable at some point in the future," he added.

🤔 Tether lending surges despite pledge to eliminate it by 2024 

Top stablecoin issuer Tether reported a surge in stablecoin lending activities in 2023, despite its announced plan to phase out such loans by the end of 2022. 

In its latest quarterly report, Tether disclosed that its assets included approximately $5.5 billion in loans as of 30 June of this year, marking an increase from the $5.3 billion reported in the preceding quarter.

A Tether spokesperson clarified that the recent uptick in stablecoin lending was primarily driven by short-term loan requests from longstanding partners. These partners, according to Tether, have built enduring relationships with the company over the years. The spokesperson also reiterated the company’s commitment to reducing these loans to zero by 2024.

⚖️ Binance and its CEO file to dismiss the SEC lawsuit 

Binance, Binance.US, and Changpeng Zhao filed to dismiss an SEC lawsuit Thursday, claiming the regulator hadn't "plausibly alleged" various securities-related violations.

The SEC sued Binance, Zhao and Binance.US in June, alleging they illegally listed unregistered securities in the form of several cryptocurrencies for trading and investment by U.S. investors. The suit immediately kicked off a legal fight over just who could access Binance.US customer funds. In Thursday's filings, attorneys for Binance and Binance.US said the regulator was overreaching by alleging violations of securities law.

⏰ Ethereum Dencun upgrade likely to be postponed to early next year

The core developers discussed that the Dencun upgrade needs to be deployed on public testnet before the DevConnect event in November; otherwise, it could potentially be delayed.

Ethereum’s next anticipated upgrade, referred to as Deneb-Cancun or “Dencun,” might potentially face a delay to early next year, as discussed by core developers. The upgrade aims to address scalability issues within the Ethereum ecosystem by implementing an improvement proposal named EIP-4844.

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