Base acquires Iron Fish team without involving blockchain or IRON token

Base announced that it has acquired the development team of Iron Fish blockchain to accelerate the research and development of privacy protection technology. This acquisition is limited to the team and does not involve Iron Fish blockchain or its native token IRON. Base stated that the Iron Fish team will develop "privacy preserving primitives" for it, while the Iron Fish project remains independent and not affiliated with Coinbase or Base. Iron Fish is a privacy focused proof of work encryption project that achieves transaction privacy through zero knowledge proofs (zk SNARKs). Iron Fish has confirmed on social platform X that it will join Base to expand its user privacy capabilities, and its founder Elena Nadolinski will continue to serve as a member of the foundation's board of directors to ensure that the project governance structure remains unchanged.