Sam Bankman Fried Provides an Update on Cardano (ADA), Listing at FTX
Sam Bankman Fried, Crypto billionaire and Founder at FTX, has hinted that (ADA), may finally be getting its spot listed. Altcoin is the only top 25 crypto that has not been listed on the FTX exchange.
FTX to List Cardano (ADA) Soon
A crypto enthusiast took to Twitter to complain that FTX has thus far refused to list Cardano’s native ADA token among its tradable coins, alleging that the exchange views Cardano “as a threat to everything FTX wants to control.”
Sam Bankman Fried, CEO of FTX stated that he was willing and able to place a wager that ADA would be listed soon. The billionaire went on to say that spot ADA is also “on our roadmap.” SBF’s tweet read:
definitely not the case!we have https://t.co/mST1XOz1mv listed internationally; adding spot ADA too is on our roadmap
— SBF (@SBF_FTX) October 23, 2022
Bankman-Fried explained to me that the absence ADA was not an intentional omission and that it was more of a logistical problem than anything else. The FTX CEO explained that before the exchange can make any changes, they “still have to make sure we have good Cardano validator parsing for deposits/withdrawals.”
The Listing will be of benefit to the ADA
Sentiment, a crypto analytics company, recently highlighted that ADA was significantly undervalued. Since August 2021, the price of ADA had been steadily declining past its descending resistance level.
The listing could provide a significant boost for the struggling ADA; while it remains unclear when FTX will eventually commit to adding support for ADA spot trading, based on Bankman-Fried’s comments, it could be within the next three months.
On the Flipside
- In a conflicting claim, Ben “BitBoy” Armstrong, a well-known crypto influencer, has Alluvial that FTX’s acquisition of Voyager could result in a forced liquidation of all ADA when the exchange takes over.
Why You Should Care
Bankman-Fried’s remarks have provided some level of clarification as to why ADA remains the only top cryptocurrency so far not listed on FTX.
Stay up-to date with other latest updates from FTX in the following:
FTX (FTT), to Provide One-Time Compensation for Victims of Phishing Attacks
Here are the reasons why ADA requires a major boost.
Cardano’s (ADA) TVL Falls to New 8-Month Low as Vasil Fails to Attract Stakers – On-Chain Activity Rises