Summary
- Coinbase announced that it will not support the Layer 2 migration of Celo, receiving significant criticism from the community.
- This decision by Coinbase was highlighted by Marek Olszewski, CEO of cLabs, as a stance against the central road map of Celo's Layer 2.
- Investors holding Celo L1 must complete fund withdrawals by January 13, 2025.
Global virtual asset exchange Coinbase has announced that it will not support the Layer 2 migration of Celo (CELO), receiving significant criticism from the community.
According to a report by The Block on the 28th (local time), Coinbase stated that it would not support the transition plan from Celo's Layer 1 to Layer 2 in the superchain ecosystem.
As Coinbase does not support the migration, investors holding Celo L1 (Coinbase's ticker CGLD) must withdraw their funds by January 13, 2025.
Marek Olszewski, CEO of Celo's main developer, cLabs, pointed out that "Coinbase seems to have taken a stance against the central road map of Celo's Layer 2."
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