Coinbase CEO Brian Armstrong has announced that the company is re-evaluating its cryptocurrency listing policies in response to the massive increase in new tokens being issued weekly. Armstrong noted in a post on the X platform that the market is currently seeing over a million cryptocurrency tokens being issued weekly, making it difficult to evaluate each token individually. He suggested that the company adopt a “ban list” approach rather than a “white list” approach, whereby untrustworthy tokens are automatically excluded, with a focus on using blockchain analytics to help clients make informed investment decisions and reduce the risks associated with highly volatile assets.
This move comes at a time when the cryptocurrency market is witnessing rapid developments, requiring companies to adopt innovative strategies to protect investors and enhance transparency. In this context, Coinbase is working to develop its policies in line with global regulatory trends and changing market needs.
In a related context, the launch of their own cryptocurrencies by former US President Donald Trump and his wife Melania has raised ethical questions and concerns about conflicts of interest, as Trump can now benefit greatly from an industry that his administration will regulate. These currencies have witnessed sharp fluctuations in their value, raising investor concerns about violent fluctuations in the cryptocurrency market.
It is worth noting that Coinbase had previously announced allocating $500 million to purchase cryptocurrencies, with a plan to invest 10% of its future profits in digital assets, in a move aimed at strengthening its position in the growing cryptocurrency market.
As the cryptocurrency market continues to evolve, there is a need for innovative and reliable mechanisms to protect investors and enhance transparency. In this context, Coinbase is developing its strategies in line with global regulatory trends and changing market needs.