Coinbase Acquires Iron Fish Team to Boost Privacy on Base
The Iron Fish blockchain will operate independently, and its CEO will remain on the Iron Fish Foundation board of directors.
Francisco Rodriguez | Edited by Parikshit Mishra Updated Mar 7, 2025 14:49 UTC Published Mar 7, 2025 9:02 UTC
Important points:
- Coinbase has acquired the team behind Iron Fish, a privacy-focused blockchain initiative, to improve privacy features on its second-layer Base network.
- The Iron Fish blockchain and its token will continue to operate independently under the governance of the Iron Fish Foundation.
- Coinbase aims to provide developers with the tools to build more secure and compliant decentralized applications by integrating privacy features into Base.
Coinbase announced the acquisition of the team behind Iron Fish, a privacy-focused blockchain initiative, to improve privacy on its second-layer Base network.
The deal does not affect the Iron Fish blockchain or its token, which will continue to operate independently “and are not affiliated with Coinbase or Base” under the control of the Iron Fish Foundation.
As a result of the acquisition, key Iron Fish developers, including CEO Elena Nadolinsky and Jason Spafford, will move to Coinbase to form a new team at Base focused on privacy and working to build tools to ensure the privacy of on-chain transactions.
Coinbase noted that the move was made to ensure everyone has access to enhanced privacy, which it believes is “not an option” but a “core element.”
Privacy can be problematic in blockchain networks, which often reveal transaction details by default, which can be used for illegal activities. By integrating privacy features directly into Base, Coinbase emphasizes its goal of providing developers with tools to build more secure and interoperable decentralized applications.
The announcement also mentioned that Nadolinsky will continue to serve on the Iron Fish Foundation's board of directors, ensuring the continuity of the project.
