Brian Armstrong calls for more regulatory flexibility to help his exchange keep pace with the influx of altcoins.
Twitter is now On X Coinbase According to the CEO, about one-million tokens now launch every week. "evaluating each one by one is no longer feasible."
Armstrong confirmed that the platform was reviewing its listing processes, in which digital assets go through rigorous screening before becoming available.
Currently, said he, an independent group has been formed to assess altcoins based on legal, compliance, and technical standards.
But in the future, Armstrong wants to adopt a different approach—meaning all tokens would be allowed by default, with projects blocked in the event of poor customer reviews or questionable on-chain data.
"Regulators need to understand that applying for approval for each one is totally infeasible at this point as well," He has written.
Not all crypto executives agree with Armstrong's stance. Danny Scott is the CEO of Coin Corner in Britain, a Bitcoin-only trading exchange. "At what point do you guys need a gambling license?"
Scott explained his meaning. Decrypt: "It's Coinbase admitting they just want to list everything and anything, no care for the quality, no care for their customers getting rugged, knowing that alts all trend down against Bitcoin over the years."
The comparison to gambling was also repeated.
"There is now more skill in picking a horse at the races than picking which meme token will pump next, it's literally gambling at this point and Coinbase wanting to list more is only heightening the problem," Scott added.
Peter Schiff, a prominent crypto critic, also weighed in against X and told Armstrong: "So much for the idea of 'limited supply.' The inflation rate of digital tokens is off the charts. Almost all of these tokens are virtually identical to Bitcoin in all the ways that really matter, including a hard cap on their individual supply."
Fears have been raised about the influx of tokens on the market. "altseason," It is possible that the trend of smaller cryptocurrencies performing better than Bitcoin will not be realized.
Ali Martinez, an on-chain analyst, pointed out that today there are more than 36.4 million altcoins compared to fewer than 3,00 during the famous bull run of late 2017 and early 2018
"With such massive supply, the market has changed significantly," He has written.
Stacy Elliott is the editor.
