Brian Armstrong: Coinbase must rethink token listing process amid rapid crypto growth
Coinbase must rethink token listing process
Brian Armstrong, the CEO of Coinbase, recently shared his concerns about the exchange's current token listing process in light of the massive surge in new tokens being created. In a tweet on January 26, Armstrong highlighted that approximately 1 million tokens are being created each week, making the process of evaluating each one individually increasingly unfeasible.
Armstrong also pointed out that regulators must adapt to this rapid growth in the market. He emphasized that it's no longer practical for regulators to approve each new token individually, noting,
“Regulators need to understand that applying for approval for each one is totally infeasible at this point as well (they can't do 1m a week). It needs to move from an allow list to a block list, and utilize customer reviews/automated scans of on-chain data to help customers sift through.”
Loading...
Supporting decentralized exchanges
In response to the evolving landscape, Armstrong stated that Coinbase will be supporting decentralized exchanges (DEX) “more deeply,” aiming to ensure customers have seamless access to trades across different platforms without needing to distinguish between a DEX or CEX.
As the crypto market continues to grow and diversify, Armstrong's comments reflect the challenges that exchanges, regulators, and customers face in keeping up with the increasing volume of tokens.
Brian Armstrong has also called for global leaders to establish Bitcoin reserves as a hedge against inflation and a crucial element of national security. He envisions Bitcoin becoming as foundational to the global economy as gold, shifting the balance of power among nation-states.
