Base’s Jesse Pollak says L2s can’t be “Ethereum but cheaper” as builders respond to Vitalik Buterin’s call for specialization. Several layer-2 builders responded after Ethereum co-founder Vitalik Buterin said the original vision of L2s as the primary scaling engine “no longer makes sense,” calling for a shift toward specialization. In a Wednesday post, Buterin argued that many L2s have failed to fully inherit Ethereum’s security due to continued reliance on multisig bridges, while the base layer is increasingly capable of handling more throughput via gas-limit increases and future native rollups. The comments prompted responses from Ethereum layer 2s, who broadly agreed that rollups must evolve beyond being cheaper versions of Ethereum but diverged on whether scaling should remain central to their role. Read more
Tether CEO Paolo Ardoino scaled back the company's $20 billion funding plan, calling the target a "misconception," while maintaining a $500 billion valuation. Update (Feb. 4, 3:20 pm UTC): This article was updated to include a statement from Tether CEO Paolo Ardoino, and the headline has been revised to reflect the changes. Tether, issuer of USDt — the largest stablecoin by market capitalization — denied it had ever planned to raise up to $20 billion, contrary to reports that circulated last fall. “There has been a misconception around the capital raise, amplified by unnecessary noise and speculation rather than by anything that has materially changed,” Tether CEO Paolo Ardoino told Cointelegraph on Wednesday. Read more