Coinbase to Suspend BLAST Trading Following Layer 2 Network Shutdown Announcement

Coinbase announced it will suspend trading for the BLAST token on October 20 following the shutdown of the Blast Ethereum Layer 2 network. Blast began winding down operations on October 2 after operating expenses outpaced revenues, leaving no viable path to economic sustainability. The network set an October 26 deadline for users to bridge assets back to Ethereum before manual smart contract interactions are required. Blast's total value locked collapsed from a peak exceeding $2.2 billion to roughly $24 million to $32 million, while monthly fee revenue fell from $3.66 million to around $2,000.