The post Big Change Coming to Coinbase Listings – CEO Armstrong Announces appeared on BitcoinEthereumNews.com.

Coinbase CEO Brian Armstrong has proposed a significant change to the way the platform evaluates and lists new tokens. With around 1 million new tokens being created every week, Armstrong argues that the traditional “allowlisting” approach, where each token is manually reviewed, is no longer sustainable. Instead, it advocates a “blocklist” model that leverages user reviews and automated on-chain data scans to help users identify high-quality tokens. Armstrong, speaking about the challenges of the exponential growth of the token creation process, said, “We need to rethink our listing process at Coinbase because we are currently creating ~1 million tokens per week and that number is growing. This is a high-quality problem, but it is no longer possible to evaluate each one individually.” He also emphasized that regulatory approval for each token is impractical, saying, “Regulators need to understand that applying for approval for each one is completely impractical at this point, they can’t evaluate 1 million tokens per week.” Under the proposed “blocklist” system, Coinbase will focus on identifying and blocking malicious or fraudulent tokens rather than manually approving each one. This approach will rely on community-driven feedback, such as user reviews, and advanced automated tools to analyze on-chain data for transparency and security. Armstrong believes this change will enable users to make informed decisions while providing a safer trading environment. In addition to rethinking token listings, Armstrong also noted the ongoing integration of decentralized exchanges (DEX) with centralized exchanges (CEX). He envisions a future where users will no longer need to distinguish between trading on a DEX or CEX, as the lines between the two continue to blur. “We will continue to integrate native DEX support more deeply. Customers should not need to know or care whether the transaction is happening on a DEX or CEX,” he said. *This…

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Filed under: News - @ January 26, 2025 5:23 pm