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Highlights
- Project listing on some centralized exchanges are now very difficult
- Coinbase CEO reiterated that listing on the exchange is free
- Most trading platforms conduct internal audit and list and delist tokens occasionally
Brian Armstrong, the co-founder and CEO of Coinbase Global Inc has waded into the conversations around listing bottlenecks on centralized exchanges. Over the past week, most of the discussions on crypto X centers around the strain promising projects faces when trying to list on top exchanges. As the Brian Armstrong noted, this is not the case with Coinbase Exchange.
Brian Armstrong on Listing Procedure
Exchanges play a crucial role in the digital currency ecosystem. First, they serve as a conduit through which investors can access new tokens to buy or trade. Depending on the size of the exchange, promising projects can gain visibility to new markets.
According to Simon Dedic, Moonrock Capital CEO, a Tier-1 project finally bagged a Binance listing after a year of due diligence. While this is a fairly positive update, Simon flagged the listing fee which is pegged at 15% of the total token supply.
In Dollar terms, the Moonrock Capital CEO said this equates to about $50 to $100 million. He noted that this is unaffordable for projects and might account for the bleeding charts experienced in the market. Considering this trend, the Moonrock Capital CEO said something has to change.
Brian Armstrong swooned in to share his opinion on the trend. He said asset listings on Coinbase are free. He advised Simon to drop a note through its asset hub to see how it can help list the project.
Asset listings on Coinbase are free – drop us a note through our Asset Hub and we’ll see if we can helphttps://t.co/Weoa8MhLeq
And yes, DEXes are also a great option (which we support in our products). https://t.co/cjp0Avu4uC
— Brian Armstrong (@brian_armstrong) November 2, 2024
As an immediate solution to the hassle in top exchange listing, he said decentralized exchanges are viable options. He reiterated that the trading platform also supports DEXes in its extensive product offering.
Tokens With Listings on Coinbase
Despite the exchanges’ legal battle with the US SEC, it has continued to support promising projects making their way to the market.
As reported earlier by Coingape, the Brian Armstrong-led firm hinted at plans to launch NEIRO perpetual futures. While it is still battling claims of support for securities token as alleged by the US SEC, Coinbase generally conduct in-house cleaning.
In one of this moves, it unveiled plans to delist a16z-backed Decentralized Social (DESO) token for potential non-performance.
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