Brian Armstrong says Coinbase ‘needs to rethink listing process’, urges regulators to adapt to rapid crypto growth | Stock Market News
Source: Live Mint
Brian Armstrong, the CEO of cryptocurrency exchange Coinbase Global Inc. shared that the company needs to “rethink” how it lists and evaluates various coins as a host of new tokens are created each week.
“We need to rethink our listing process at @coinbase given there are ~1m tokens a week being created now, and growing. High quality problem to have, but evaluating each one by one is no longer feasible,” he wrote on social media platform X (formerly known as Twitter) on January 26.
‘Help Customers Swift Through Crypto Tokens’
Armstrong also noted that regulators need to step up and help customers swift through the barrage of tokens in the market. Writing: “And 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 a an allow list to a block list, and utilize customer reviews/automated scans of onchain data etc to help customers sift through.”
On Coinbase’s role, Armstrong stated that they would support decentralised exchanges “more deeply”
“…we’ll continue integrating native DEX support more deeply. Customers shouldn’t need to know or care whether the trade is happening on a DEX or CEX,” he added.
Crypto News: Bitcoin Price Today — January 26, 2025
At the time of writing at 10 am on January 26, the world’s largest cryptocurrency was trading at $105,360.68, up 0.51 per cent from the previous day, according to data on Coinmarketcap.
Further, market capitalisation is at $2.08 trillion — also up 0.17 per cent over the past 24 hours. Bitcoin’s dominance in the crypto market is currently 57.60 per cent, a decrease of 0.23 per cent over the day.
Overall, the global cryptocurrency market cap is $3.61 trillion, a 0.57 per cent from the previous day, with total trading volume over the last 24 hours notched at $80.92 billion — a 37.38 per cent decrease.
