Coinbase CEO concerned about new tokens flooding market, suggests change in evaluation system.

From Investing.com

January 26, 2025 1:00:20 pm:

Coinbase CEO Brian Armstrong is concerned about the overwhelming number of new tokens flooding the crypto market, suggesting a shift from an “allow list” to a “block list” system for evaluation. He aims for seamless trading experience by integrating with decentralized exchanges.

Gold advocate Peter Schiff questions the value of digital assets, pointing out the inflation rate caused by the abundance of tokens. He criticizes Bitcoin’s proof-of-work mechanism, likening it to wasteful energy expenditure with no tangible value creation.

Schiff argues that Bitcoin’s proof of work is inefficient and does not store or transform energy for later use, unlike a battery. He sees the process as energy-intensive but ultimately useless, contrary to how it is often praised by Bitcoin enthusiasts.

Read more at Investing.com: Bitcoin Critic Peter Schiff Explains Why Proof of Work Makes No Sense By U.Today