Speculators think the post refers to Coinbase’s own wrapped Bitcoin product, which will potentially be launched on its layer-2 network Base.
Coinbase has just teased the possible launch of a new product called “cbBTC” — with many commentators speculating that the United States-based crypto exchange is launching its own wrapped Bitcoin token.
In an Aug. 13 post to X, the official Coinbase account said just one word: “cbBTC” before adding “coming soon” in a follow-up comment to the original post.
In another X post an hour later, Jesse Pollak — the head of Coinbases’ layer-2 network Base — expressed his love for Bitcoin (BTC), adding that Base would build a “massive Bitcoin economy” on its network.
