- Coinbase CEO Brian Armstrong proposes a extra sensible strategy of their crypto alternate’s overview course of because of the sheer quantity of recent tokens on the platform.
- The Coinbase boss estimates one million new token purposes coming into the alternate weekly.
Brian Armstrong, CEO of Coinbase, has just lately expressed alarm concerning the inflow of tokens arriving at their platform. The top honcho of one of many largest crypto exchanges on this planet proposed a overview of the Coinbase itemizing course of.
Amping Up the Coinbase Evaluate Course of
Yesterday, Armstrong famous that round one million tokens are already being created weekly. He expects the numbers to balloon going ahead.
The Coinbase CEO mentioned on X that it’s a “high-quality drawback to have,” however conducting a overview for them one after the other is not possible. Their predicament is amplified by regulatory limits, particularly below the ever-watchful eye of the US Securities and Alternate Fee (SEC). Therefore, he really useful a extra sensible strategy to addressing the matter.
Based on the boss of the biggest crypto alternate within the US, token itemizing ought to make the most of an permit checklist and a Block
In addition, Armstrong ensured that Coinbase will maintain its integration of native DEX (decentralized exchange) support “more deeply.” He explained that customers “shouldn’t need to know or care” if their trades occur on a DEX or CEX (centralized exchange).
Coinbase currently employs a strict approval process for token listings. Its multi-step approach includes an initial request for a review, the actual initial review, and due diligence plus regulatory compliance checks.
Key Crypto Personalities React
Michael Saylor, MicroStrategy’s Executive Chairman, responded to Armstrong’s post, reminding him of the importance of having the right digital assets framework in the US. Reiterating his previous proposal to President Donald Trump’s administration, the Bitcoin (BTC) maximalist stated that it has the potential to unleash productivity in the free market and grow the industry by 100 times.
Last December, Saylor unveiled a proposal titled “Digital Assets Framework, Principles, and Opportunity for the United States.” The document highlighted how Trump could continue positioning the US as a global economic powerhouse amid the financial world’s transition to digital assets. It emphasized the establishment of regulatory clarity in the crypto market through the establishment of clear taxonomy in digital assets and arriving at more practical as well as rational compliance procedures to empower innovation.
On the other hand, the pseudonymous Truth Machine, an X account associated with Dr. Craig Wright, criticized Coinbase management for delisting Bitcoin SV (BSV) from its platform despite its constant support of meme coins like Poopcoin (POOP).