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Brian Armstrong, CEO of Coinbase, has announced the need for a significant overhaul of the company’s token listing process in light of the massive influx of new tokens. In a January 24 post on X, Armstrong pointed out that the creation of approximately one million tokens per week is rapidly growing, making the current manual evaluation system unmanageable.
“We need to rethink our listing process at Coinbase, given there are ~1 million tokens a week being created now, and growing,” Armstrong wrote. He suggested that instead of continuing with the traditional allow list approach, Coinbase should consider a shift toward a block list system, supported by customer reviews and automated on-chain data scans. This, he believes, would help customers more effectively navigate the growing number of tokens.
Currently, Coinbase’s listing process involves a detailed review, due diligence, and regulatory compliance checks for each potential asset. However, Armstrong’s comments reflect the increasing strain this system faces as new tokens flood the market.
The statement comes amid criticism from Justin Sun, the founder of the Tron blockchain, which has been under review for listing on Coinbase for the past seven years. Sun responded to Armstrong’s tweet by suggesting that the delays in listing Tron’s native cryptocurrency, TRX, were more indicative of Coinbase’s lack of fairness and industry judgment rather than any issue with the coin itself.
Disclaimer: The information provided is for informational purposes only and does not constitute financial or investment advice.