PANews reported on June 24 that Coinbase announced that Horizen is transitioning from the Layer 1 Horizen blockchain to the Base-based ERC-20 token. The upgrade is expected to take place on July 23, 2025. Coinbase plans to temporarily suspend ZEN's sending/receiving/trading functions from July 16 to July 25 before the migration.

Coinbase added that it will support this migration and automatically convert ZEN tokens on Layer1 Horizen to ZEN tokens on Base, and plans to temporarily disable the Horizen network on July 16 to perform this upgrade. Coinbase reminds you not to deposit, transfer or trade ZEN during the migration period. Any deposits during this period (July 16 to July 25) cannot be restored. We will notify you separately after the service is restored.