Vitalik Buterin Defends Ethereum Layer-2 Base, Ensures User Fund Security and Withdrawal Guarantees

Ethereum co-founder Vitalik Buterin has defended the Layer-2 (L2) solution Base by Coinbase, emphasizing that despite some centralized elements like sequencers, the system fundamentally relies on Ethereum's Layer-1 (L1) smart contracts for security and user fund control. Buterin clarified that users retain the ability to move or withdraw their funds directly on Ethereum's mainnet even if the L2 sequencer shuts down or censors transactions, exemplified by the Soneium L2 incident where users successfully bypassed operator censorship using force-inclusion mechanisms. He stressed that L2s are non-custodial and cannot steal or block user funds, highlighting that this permissionless access is key to L2 decentralization and security. While Base has attracted over $5.1 billion in total value locked and benefits from Coinbase's global reach, ongoing debates about L2 centralization call for further decentralization as the ecosystem matures. Additionally, Coinbase’s Chief Legal Officer differentiated L2 sequencers from exchanges, arguing that L2s merely process transactions without acting as trading platforms. The overall consensus from Buterin and other experts is that Ethereum’s L1 infrastructure ensures censorship resistance and fund safety, even as L2s scale and enhance user experience.