Brian Armstrong, the CEO of Coinbase, the largest cryptocurrency exchange in the United States, proposed to reconsider the company’s asset list process in response to the surge in tokens.
In the X post on January 24, Armstrong mentioned the difficulties caused by the new token’s exponential growth.
Armstrong wrote, “Considering that about 1 million tokens are being created and increasing a week, we must reconsider the listed process of Coinbase.” He is no longer possible to manually evaluate each token and urged the regulators to adopt more practical approaches.
“We need to move to the block list in the allowable list and use the customer review and automated scan of the onchain data to help customers select them.”
The current listing process of Coinbase includes multi -stage approaches, including initial review, due diligence, and compliance confirmation, depending on the website.
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Justin Sun, the founder of Tron, criticized Coinbase’s listing policy, pointing out that TRX, one of the top 10 cryptocurrencies in the market cap, is being reviewed for seven years without listing for seven years. I did it.
SUN said of the tweets of Armstrong, “This has nothing to do with the TRX itself, and it reflects that Coinbase has lost the most basic fairness and industry judgment regarding new listing.”
SUN alleged that on November 4, Coinbase required a $ 330 million commission to list the TRX listing. According to SUN, the commission included $ 80 million worth of TRX tokens at the time and $ 250 million in Bitcoin deposits to be stored in Coinbase Custody.
Meanwhile, Ansem, an anonymous cryptocurrency influence, suggested that Coinbase will hire people with practical experience in order to simplify token evaluation.
“They can tell you 10 of the 1 million tokens that should be listed as soon as possible. This is a problem that can be easily solved. ”ANSEM suggested.
source: Ahn
Hybrid model
Armstrong also unveiled Coinbase’s plan to deepen integration with the decentralized exchange (DEX).
He imagines a future that customers should know whether the transaction occurs in DEX or on the CEX (centralized exchange) or not to worry about it.
This is from the hope that US cryptocurrency regulations will be more friendly under President Donald Trump’s new administration. At the World Economic Forum held in Davos, which ended on January 24, Coinbase CEO Brian Armstrong mentioned the impact of the government on the cryptocurrency industry.
Armstrong said in a separate X post, “Basically, all conversations with major market leaders focused on what the Trump administration planned about cryptocurrency.”
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