PANews reported on March 7 that Base announced that it has acquired the development team of the Iron Fish blockchain to accelerate the development of privacy protection technology. The acquisition is limited to the team and does not involve the Iron Fish blockchain or its native token IRON. Base said that the Iron Fish team will develop "privacy protection primitives" for it, and the Iron Fish project will remain independent and not affiliated with Coinbase or Base.

Iron Fish is a privacy-focused proof-of-work crypto project that achieves transaction privacy through zero-knowledge proofs (zk-SNARKs). Iron Fish confirmed on the social platform X that it will join Base to expand 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's governance structure remains unchanged.