Brian Armstrong says Coinbase needs to ‘rethink’ its token listing process.
Brian Armstrong, CEO of Coinbase, the largest cryptocurrency exchange in the United States, has proposed rethinking the company's asset listing process in response to the increase in token innovation.
In a January 24th X post, Armstrong mentioned the challenges faced by the significant growth of new tokens.
Armstrong wrote: “We need to rethink our inventory process at Coinbase, with ~1 million tokens being created and growing per week. Manually reviewing each token is no longer practical and calls for regulators to take a more hands-on approach.”
“It needs to move from a whitelist to a blocklist and use customer reviews and automated onchain data to help vet their customers,” he added.
Coinbase's current listing process involves a multi-step approach, including initial review, due diligence and regulatory compliance checks, as described on its website.
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Back off
Tron founder Justin Sun has taken a jab at Coinbase's listing policies, saying Tron (TRX), one of the top 10 cryptocurrencies by market cap, has been under review for seven years without being listed.
“This has nothing to do with TRX itself, but when it comes to new details, Coinbase reflects a very basic lack of fairness and industry judgment,” Sun said in response to Armstrong's tweet on X.
Sun filed a lawsuit on November 4 that Coinbase demanded a $330 million fee to list TRX. According to Sun, the payments included 500 million TRX tokens, worth $80 million at the time, and a $250 million Bitcoin deposit held in Coinbase Custody.
Meanwhile, an anonymous crypto influencer suggested that Coinbase hire someone with experience in the industry to streamline token reviews.
“Out of 1 million tokens, they can tell you which 10 tokens should be listed as soon as possible. This is a problem that can be easily fixed,” Ansem pointed out.
Source: Ansem
Mixed model
Armstrong also revealed plans to strengthen Coinbase's integration with decentralized exchanges (DEXs).
He envisions a future where clients “need not know or care whether the trade is happening on DEX or CEX.” [centralized exchange]He said.
This comes amid promises of friendlier crypto regulation in the US by President Donald Trump's new administration. At the World Economic Forum in Davos, which ended on January 24, Coinbase CEO Brian Armstrong highlighted the impact of his administration on the crypto industry.
“Basically every conversation I've had with major market leaders has focused on what the Trump administration plans to do with crypto,” Armstrong said in a separate X post.
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