Coinbase CEO Brian Armstrong Calls for a Token Listing Process Reevaluations Amid Surge in Meme Coin Launches

Brian Armstrong, the CEO of Coinbase Global Inc. COIN, has voiced the necessity for a reevaluation of the company's token listing process amid a surge

Coinbase (NASDAQ:COIN) CEO Brian Armstrong has spoken out about the need to reassess the company's token listing process as a slew of meme coins hit the market.

During Coinbase's Q4 2024 earnings call, Armstrong highlighted the drastic change in the cryptocurrency landscape, with an estimated 1 million new tokens being created each week. According to the CEO, the majority of these new cryptocurrencies are meme coins or lower-quality cryptocurrencies.

“It’s a little bit like the early days of the Internet; you could list all the major websites on a single directory,” Armstrong said, adding that eventually, Google Search was needed because the Internet became so vast.

Armstrong suggested that Coinbase needs to integrate decentralized exchanges, where most of the meme coins are initially launched, into their product. This way, customers can trade without needing to know or care whether it’s happening on a centralized or decentralized exchange.

“But we also need to balance giving people—the customers access to what they want with appropriate disclosures and consumer protection so that they know that they’re trading the appropriate asset,” the CEO said.

Coinbase did not immediately respond to Benzinga's request for more details, such as the types of meme coins the exchange is looking to integrate.

Armstrong's comments come amid several high-profile meme coin launches in the past month, including the Official Trump (TRUMP) and Official Melania (MELANIA) tokens by former President Donald Trump and First Lady Melania Trump, respectively. Notably, TRUMP is available to trade on Coinbase.

Coinbase reported a higher-than-expected Q4 revenue of $2.3 billion, an 88% increase quarter-over-quarter, after the market close on Thursday.

Coinbase stock fell 1.47% in after-hours trading after closing up 1.47% to $298.11 during Thursday's regular session.