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"Bitget Lists Unicorn Fart Dust Amid Crypto Boom; Coinbase Shifts to Block-List Approach"

Coin WorldMonday, Jan 27, 2025 3:58 am ET

1min read

Bitget, a leading cryptocurrency exchange, has announced its plans to list Unicorn Fart Dust (UFD), a newly created token that has gained significant attention in the crypto community. The listing comes as the crypto market continues to experience rapid growth and innovation, with the number of tokens created weekly now exceeding 1 million.

Coinbase, the largest cryptocurrency exchange in the US, has also been exploring new strategies to manage the surge in token creation. In a recent announcement, Coinbase CEO Brian Armstrong revealed that the platform is moving from its current "allow-list" system to a "block-list" approach. This shift will use automated on-chain data scans and community feedback to identify and exclude risky tokens, streamlining the listing process and enabling regulators to focus on harmful assets.

The explosion of token creation has been driven by platforms like Solana-based Pump.fun and Tron-based SunPump, which have democratized the token creation process. According to Dune Analytics, Pump.fun alone has enabled the launch of over 6 million tokens since its introduction last year. Meme coins have also played a substantial role in the surge, highlighting the evolving nature of the crypto ecosystem.

As the industry continues to expand, exchanges like Bitget and Coinbase are adapting their strategies to balance innovation with security. By listing tokens like Unicorn Fart Dust and revising their token evaluation processes, these platforms aim to provide users with access to a wide range of cryptocurrencies while ensuring the safety and integrity of the market.

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