Coinbase Revises Token Listing Process as Weekly Creation Exceeds 1 Million
Coinbase is updating its token listing process to handle the growing number of new cryptocurrencies, which now exceeds 1 million tokens created weekly. CEO Brian Armstrong stated that manual evaluations are no longer feasible and proposed a shift from an “allow-list” to a “block-list” approach. This change aims to use automated data scans and community feedback to identify and exclude risky tokens.
Key points include:
- Enhancing integration with decentralized exchanges (DEXs) to streamline trading for users.
- Over 36 million tokens currently exist in the market, potentially reaching 100 million by 2025.
- Platforms like Pump.fun have enabled over 6 million token launches since last year.
- Meme coins significantly contribute to the growth of the crypto ecosystem.
Coinbase's strategy focuses on balancing innovation with security amidst rapid cryptocurrency expansion.