Vitalik: Base Is a Safe L2, Protecting User Funds Without Custody

Ethereum co-founder Vitalik Buterin defended Base as a secure L2 solution, stressing that user funds remain protected through decentralization. Analysts had raised concerns that L2 chains could pose censorship risks or even hold funds in a custodial way.

Buterin countered that L2s are not just “glorified servers” but networks that allow users to permissionlessly withdraw funds to Ethereum, even if the L2 itself stops operating. This feature ensures that funds are safe and non-custodial by design.

He cited censorship incidents on chains like Soneium, arguing Ethereum’s infrastructure ensures censorship-free token transfers.

Base founder Jesse Pollak explained the sequencer works as a fast lane but noted users can always post transactions directly to Ethereum. While this path may involve delays, it guarantees that no central party can block transactions.

Meanwhile, the L2 ecosystem continues to expand. Total value secured by L2s grew 35% year-over-year to $54.9B. Base now secures over $14.92B, including $4B in native USDC stablecoins, while Arbitrum remains the leading venue for bridged stablecoins, growing to $9.33B.

In conclusion, Buterin emphasized that decentralization is the key safety layer of L2s, ensuring users’ funds remain secure and censorship-resistant.