Coinbase CEO Brian Armstrong has acknowledged the need to re-evaluate the exchange’s token listing process. In a recent blog post, Armstrong highlighted the rapid growth of new token creation, with approximately one million tokens emerging weekly. He emphasized that the current manual evaluation process for each token is no longer sustainable, necessitating a shift in approach.
Armstrong proposed transitioning from an “allow-list” system, where each token requires explicit approval for listing, to a “block-list” system. This would involve initially listing all tokens and subsequently blocking those deemed risky or non-compliant. He suggested leveraging customer reviews and automated on-chain data analysis to assist in this process.
This announcement comes amidst recent controversy surrounding Coinbase’s listing of the TRUMP and MELANIA tokens, which drew criticism for their perceived low quality. Armstrong’s proposal reflects the evolving landscape of the cryptocurrency market and the challenges faced by exchanges in adapting to the rapid pace of innovation and the increasing number of new tokens.
