Armstrong: Base Lending Markets Hold $7.49B Supplied, $2.65B Borrowed

brian_armstrong said on Nov. 10, 2026 that lending markets on Base now hold $7.49B in supplied assets, with $2.65B borrowed. jessepollak quoted the post the same day.

Armstrong, Coinbase's co-founder and CEO, said Base "is quickly becoming the home for onchain finance," describing it as financial infrastructure for trading, payments and lending that is "beloved by agents." Pollak, who leads Base, repeated that first line in his own post.

Context

Base is the Ethereum Layer-2 network incubated by Coinbase and built on the OP Stack. It has no native token, though the project has said it is exploring one; gas is paid in ETH. Recent onchain-finance additions on the network include SPCXc tokenized SpaceX stock on the Aave V4 market and PAXG as Coinbase Borrow collateral, and tokenized stocks on Base set a record of more than 144M in daily volume on Nov. 5.

What to watch

Armstrong closed with "Come build on Base!" and a link for builders. The key metric to track is whether supplied assets and borrows keep climbing together as more lending venues and tokenized-asset markets go live on the chain.