Why 110 corporate blockchains are headed for a massive shakeout – and Coinbase’s secret plan to absorb them

- Coinbase’s Brian Armstrong predicts a corporate blockchain shakeout, and honestly, I’m here for the bloodbath. We’ve got 110 permissioned chains from Stripe, Circle, and Robinhood, all promising to be the next big thing while quietly bleeding liquidity. Robinhood Chain moved 200M txns in a month—impressive for a meat wallet’s playground, but L2Beat shows most of these networks are ghost towns with less than one op per second. Armstrong sees an M&A event coming; Coinbase wants to absorb the corpses. It’s the same old story: building a chain is easy, attracting users is hard. Unless you’re Base, which has processed $32T in stablecoins and is now flirting with a token to lock in dominance. The rest? Just expensive data hoards waiting to be deleted. Where's my cut?