- Binance will let users vote on token listings, giving them a say in new projects.
- Coinbase eyes a blocklist model as it struggles to review a million tokens weekly.
Binance is overhauling its token listing process, introducing community-driven voting mechanisms that allow users to decide which tokens get listed or removed.
The exchange’s new system will let Binance users vote on projects, giving them a direct role in shaping the platform’s offerings.
Tokens receiving the most support and passing due diligence will be listed, while underperforming or non-compliant tokens could face removal.
The overhaul follows criticism from Binance co-founder and ex-CEO Changpeng Zhao, who recently called the exchange listing process “broken” due to short notice periods.
Zhao argued that tokens often surge on decentralised exchanges before listing announcements, only to face heavy selling pressure once they go live on Binance.
He suggested that centralised exchanges should adopt automatic listing procedures similar to DEXs.
Coinbase listings
Coinbase is considering a similar listing shift of its own.
CEO Brian Armstrong has proposed moving to a blocklist model, letting users and automated scans filter out scams instead of pre-approving tokens.
Armstrong said the change is necessary due to the sheer number of new tokens — nearly one million per week — making Coinbase’s manual review process unsustainable.
“Evaluating each one by one is no longer feasible,” he wrote, adding that even regulators can’t keep up with the volume of new assets.
It would essentially be a system along the lines of Twitter’s Community Notes but for crypto.
The industry shift comes as Paul Atkins awaits confirmation as the agency’s next chair following his nomination by Donald Trump.
The potential leadership change has fueled speculation that crypto exchanges will face a more favourable regulatory environment.
Kyle Baird is DL News’ Weekend Editor. Got a tip? Email at kbaird@dlnews.com.
