Coinbase, by far, has established a good presence across the crypto market as a reliable digital assets service provider. The exchange is currently listed as the second-largest crypto exchange by Coingecko with more than 67.1 million monthly users. 

Over the years with the advancement of the crypto market, Coinbase has matured into a global exchange providing access to more than 271 tokens. However, the crypto exchange is enduring serious criticism from prominent individuals in the sector. 

Recently, top personalities in the crypto landscape bemoaned how the exchange allegedly demanded hefty money to list new tokens. On the flip side, Coinbase has overtly emphasized that its listing is entirely free. 

Genesis of the Issue 

While there have been numerous complaints in the past, the outcry from Justin Sun, the founder of Tron intensified the backlash. Sun, in early November 2024 accused Coinbase of charging massive fees to list TRX ($0.25), the native token of the Tron Network. 

He revealed that the exchange demanded about $330 million while Binance listed the token for free. To an extent, his claims may lack credit but it gained more ground with the input of another top crypto personality, Andre Cronje, the founder of Yearn.finance and the Keep3r Network. 

Like Sun, Cronje also alleged that Coinbase charged various huge fees to list tokens. This topic generated huge discussion across various crypto communities until it eventually went down. 

However, a recent engagement on X rebirth the controversy on the listing issue. Brian Armstrong, the CEO of Coinbase in a January 24 X post called for a review of the exchange’s listing process stating the increasing emergence of new cryptocurrencies. 

The CEO bemoaned how new tokens keep flooding the market daily, which makes their review process for potential listing cumbersome. Furthermore, He explained that manually reviewing each cryptocurrency is no longer achievable, therefore urging regulators to introduce new measures. 

Armstrong opined that regulators should review tokens in batches by using automated onchain data. 

Criticism Against Coinbase 

Justin Sun again reacted to the post by Brian Armstrong. The founder of Tron quickly pointed out how Coinbase refused to list TRX despite the token being among the top 10 largest cryptocurrencies by market cap. 

Also, He disclosed that for up to seven years now, Coinbase is yet to conclude its review on TRX, and has refused to list the token. He submitted that the objections of the CEO reflect how Coinbase has lost its fairness and industry judgment on listing new cryptocurrencies. 

Meanwhile, the allegations swiftly caught the attention of Luke Youngblood, the founder of Moonwell Finance who defended the exchange. The expert stated that Coinbase’s listing policy is to avoid potential rug pulls by preventing the project team from holding 50% of the token’s total supply. 

In response, Justin Sun said no individual or entity holds 50% of TRX’s total supply, insisting that the exchange has no valid reason to demand huge fees for token listing. Other users swiftly reacted to Luke Youngblood’s post calling his attention to how the developing team of Official Trump ($TRUMP ($15.61)) holds more than 80% of the token. 

With $TRUMP listed on the exchange, community members disposed of the claims of the Moonwell Finance founder. 

Positive Notes  

Amidst the whole rumble, Brian Armstrong made some vital objections that could shape the future of the cryptocurrency market forever. The CEO hinted at some of the exchange’s plans including a possible deep integration with decentralized exchanges. 

Further, Armstrong predicted a future where users won’t care if the trade is happening on a DEX or CEX. Consequently, he explained that the innovation will boost access to liquidity and support the sector to flourish. 

The prediction of the CEO is propelled by the positive approach of the new US President, Donald Trump to the cryptocurrency space. To a good length, the full embracement of the digital assets sector by Trump indicated that the cryptocurrency market is set to embark on a prosperous run. 

Across the crypto community, there is growing confidence that the new administration would introduce a proper cryptocurrency regulatory framework and other policies to support the sector. 

Accordingly, the development will push the crypto sector to a new height while strengthening Coinbase’s influence in the sphere. Coinbase has a strong user base in the US and the relaxation of the anti-crypto policies of the previous administration will further support the exchange’s expansion. 

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