Bankman-Fried Explains Why FTX is Yet to List Cardano’s ADA Token By CoinEdition
Bankman-Fried Explains Why FTX is Yet to List Cardano’s ADA Token
- The crypto community challenged FTX to list the native token, ADA.
- FTX CEO stated that they are waiting for good Cardano validators to parse for withdrawals and deposits.
- Bankman-Fried believes Binance’s new policy to auto-convert USDC to BUSD is triggering another stablecoin war.
One crypto enthusiast complained via Twitter that the FTX crypto-exchange, one of the biggest in the market refused to list the Cardano native coin ADA among tradable currencies. They claimed the exchange views Cardano ‘as a threat to everything FTX wants to control.’
Sam Bankman Fried, CEO of FTX called the claim absurd. He clarified that ADA was included among derivative contracts and that the exchange plans to include it in its spot trading section. Withdrawals and deposits are possible.
The crypto-savvy individual added that “from the outside, Cardano being the only blockchain in the top 25 without spot listings on the FTX exchange seems intentional.” Bankman-Fried corrected their notion that it was not intentional but that the delay in listing ADA was to ensure the exchange has good Cardano validators parsing for deposits and withdrawals.
heh nah it’s not intentional–tokens that are on blockchains we already support are easier, so the ERC20/etc. Tokens are almost automatic, but we still need to ensure we have good Cardano validator processing for deposits/withdrawals
— SBF (@SBF_FTX) October 23, 2022
Interestingly, after the CEO’s comment, many people offered to assist FTX in integrating the Cardano blockchain into its system, hoping the listing would come before the next market cycle.
In a tweet yesterday, the FTX CEO argued that the Binance exchange was starting “the Second Great Stablecoin War.” He made the remarks on a tweet that claimed the supply of the Binance stablecoin (BUSD) was on a tear as it crossed $20 billion this month for the first time.
Bankman-Fried believes Binance’s new policy to auto-convert USDC stablecoin to its BUSD triggered the significant change in BUSD supply, marking what he described as another stablecoin war. He recalled the 2018 battle for dominance between stablecoins, with USDC, USDT and USDP edging out TUSD and GUSD.
1) Binance converts USDC –> BUSD, and we see the change in supplies.Thus begins the Second Great Stablecoin War. (The first, fought in 2018 ended with USDC edging out USDT/GUSD/USDP. https://t.co/X2VLOBOTev
— SBF (@SBF_FTX) October 23, 2022
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