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(Bloomberg) — Coinbase Global Inc.’s CEO said the company needs to rethink how it lists and evaluates the slew of new tokens getting created each week.

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“There are ~1m tokens a week being created now, and growing,” Coinbase CEO Brian Armstrong said in a post on X. “High quality problem to have, but evaluating each one by one is no longer feasible.”

Regulators also need to reconsider the approval process, given the increase in token creation activity. Armstrong suggested a shift to a block list from an allow list, as well as using reviews and scans of on-chain data to help customers sort through the volume.

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