The CEO of Coinbase, Brian Armstrong, said that the exchange of crypto will have to rethink the way in which he lists the new trading pieces for trading given the endless flow of new tokens created.
The publication on the social media platform X, Armstrong, says that there are too many parts, carry out an appropriate assessment and that their regulatory clarity on an individual basis is now “completely unrealizable”.
“We must rethink our registration process in Coinbase since there are about 1 million tokens per week being created and growing. High quality problem to have, but to assess everyone by one is no longer possible. And regulators must understand that the request for approval for everyone is also fully impracticable at this stage (they cannot do 1 million per week).
He must go from an authorization list to a list of blocks and use the customer reviews / automated chain data data, etc. To help customers sift through.
This and we will continue to integrate the Dex (Dexralized Exchange) deeper). Customers should not need to know or worry about whether the trade occurs on a Dex or a CEX (centralized exchange). »»
According to Coinbase.com, 271 assets are available for trading, but the number of tokens created each day soar exponentially.
Coinbase director Conor Grogan reports that cryptographic space is on the right track to have at least 100 million tokens in circulation by the end of the year.
Armstrong also admitted last week that Coinbase was caught off guard by the same explosion on Solana (ground), which bogged down the blockchain and made it difficult for the exchange of processing withdrawals.
“The team works hard on the scaling of our Solana now infra – a lot of Solana activity in the last days, we are not anticipating at this level of overvoltage …
It is a scaling challenge that maintains activity on the Solana chain (which has increased lately), not on solvency. Customer funds are 100% supported and audited periodically by Deloitte. The team works hard to resolve it. »»
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Follow us XFacebook and telegram
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Image generated: Midjourney
