Coinbase CEO Brian Armstrong took to Twitter to share his thoughts on the Wells notice issued by the U.S. Securities and Exchange Commission (SEC) last week, stating that it had led to a noticeable boost in morale. He emphasized the importance of continuing to develop and contribute to the firm's product line. Additionally, Coinbase is encouraging developers and builders on Base, its Ethereum layer 2, to focus on flatcoins or non-fiat pegged stablecoins, among other critical areas. Flatcoins are stablecoins that track the rate of inflation, enabling users to have stability while limiting exposure to economic uncertainties. The American crypto giant cited the recent turmoil in the banking industry to highlight the need for such a stablecoin. The blog post also listed three other areas for builders on Base to focus on, with the Base Ecosystem Fund offering early-stage investment in projects.

(By Suzuki Shillsalot)