The Blast Network is an Ethereum Layer 2, which means a chain built on top of Ethereum to handle transactions faster and at a lower cost. This crypto news report covers what Coinbase said, wh
The Blast Network is an Ethereum Layer 2, which means a chain built on top of Ethereum to handle transactions faster and at a lower cost.
This crypto news report covers what Coinbase said, why the network is closing, and what is still unclear.
Coinbase first warned users on October 7, and the latest posts show that the halt is now in effect.
Coinbase customers had until October 20, 2026, before trading stopped, and they had until October 26, 2026, to move their assets off the platform. Coinbase’s status page adds that trading of other crypto assets is not affected by the change.
The team behind the project announced the closure on October 2, 2026. It said it would wind down operations because the cost of running the network had climbed past the revenue it brought in. Activity has fallen sharply since the peak, as the table below shows.
Source: Data by DefiLlama
The key dates are close together, which leaves holders little time to act.
Source: Coinbase Markets posts on X
Holders can use the standard Blast interface until the deadline. Users can withdraw through the normal interface until October 26, and the team advised moving assets to Ethereum mainnet.
The same report says that withdrawals reopen after a short pause with a 24-hour delay in place of the old seven-day challenge period.
Coinbase customers should first send BLAST off the exchange to a wallet they control, since transfers after the deadline will need to go through the Blast bridge contract on Ethereum.
Coinbase is not the only platform acting on the shutdown. BTSE, Bitvavo, and Bybit have also announced plans to delist or suspend BLAST. Upbit also plans to delist BLAST on October 26, so holders on several exchanges face the same date.
The posts explain what happens to access but leave some questions open. What happens after the deadline, including whether Coinbase will add further limits on BLAST balances, has not been confirmed in the available details. Holders on exchanges or in older wallets should therefore treat October 26 as a firm limit and not wait for a later notice.
The closure shows how fast a smaller Layer 2 can lose users, fees, and exchange support once rewards fade and costs stay high. It also shows that a falling token price can come before an official shutdown notice, which makes TVL and network revenue useful checks for anyone who holds a Layer 2 token.
The Blast Network case may also push exchanges to review how they handle tokens tied to chains that wind down.
Readers who follow this crypto news story can watch for official notices from Coinbase and the Blast team, updates on bridge access after October 26, and any new exchange delistings. Until those updates appear, the Blast Network shutdown is best read as a dated deadline with a few open questions.
YMYL Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or trading advice. Readers should do their own research before trading or investing in cryptocurrency.
