The CEO of Coinbase, a leading cryptocurrency exchange, Brian Armstrong, has announced that an incredible 1 million new cryptocurrencies are currently being created every week. In a recent post he shared this surprising number, explaining that with this rapid growth in digital assets, this is starting to make it hard to evaluate a new coin to list on the platform.
Armstrong highlighted that with so many new tokens appearing in the market, regulators also need to reconsider the way of approving new cryptocurrencies, and suggested that a ‘block list’ would be more beneficial than reviewing each new coin one by one.
— Brian Armstrong (@brian_armstrong) January 24, 2025
However, it’s not the sheer volume of brand new coins that’s drawing a buzz. The crypto world is seeing an increase in money from traditional finance (TradFi) firms such as banks and asset managers. At the World Economic Forum in Switzerland, corporate leaders from these firms made it clear they are stepping up crypto and blockchain technology investments, Armstrong said. These moves are establishing the groundwork and leadership for even more competition in the crypto space going forward which, he believes, will ultimately serve the entire financial system.
Former U.S. President Donald Trump’s pro crypto stance is also bringing it to the attention of other leaders, Armstrong said. Trump’s possible plan to stash national Bitcoin reserves is prompting big players to accelerate their crypto investment. The conversations at the forum centered around how companies can keep up in the crypto game with possible new Trump administration policies.
These changes are happening so quickly it’s making the future of crypto more exciting than ever. According to Armstrong, the floodgates are being opened and this is just the beginning of crypto’s impact on traditional finance.
Also read: Eric Trump Teases Zero Taxes on U.S. Crypto to Strengthen Blockchain Industry
