FTX Sam Bankman-Fried hints at Cardano listing FTX Sam Bankman-Fried hints at Cardano listing
The FTX founder asked those who think he is lying to place a bet on whether FTX would list Spot ADA within the next three months.
2 min read
Updated: Oct. 24, 2022 at 12:39 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
FTX founder Sam Bankman-Fried has hinted that the exchange could soon be listing Cardano’s ADA for spot trading in an Oct. 23 tweet.
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
According to SBF, FTX International has ADA perpetual contracts listed, and adding spot ADA is part of the exchange’s roadmap.
SBF made this statement in response to a Cardano investor who said FTX had refused to list the digital asset because the exchange views the asset “as a threat to everything they want to control.”
SBF reveals why FTX is yet to list Cardano
Bankman-Fried stated that the exchange had not intentionally avoided listing ADA. According to him, the exchange had not listed the token because it was easier to list tokens on the blockchains it already supports, citing ERC20 tokens as an example.
He continued that before the exchange could list ADA, it would need a “good Cardano validator parsing for deposits/withdrawals.”
When pressed by the community on when the exchange would list ADA, SBF asked those who think he is lying to place a bet on whether FTX would list spot ADA within the next three months.
hm if you think I'm lying would you take a 1:1 bet on whether FTX lists ADA spot within the next 3 months? You can choose the size?
— SBF (@SBF_FTX) October 24, 2022
Cardano investors do not believe SBF
Some Cardano investors disagreed with SBF, saying it was hard to believe that the exchange would list ADA considering how he has repeatedly spoken about it.
One investor shared a Business Insider interview with the FTX founder in September 2021, where the crypto billionaire said Cardano was one of the significant blockchains his exchange would list.
Others pointed out that FTX listed the new Aptos APT token almost immediately after it launched, while ADA, a top ten cryptocurrency, has not been listed.
Some Cardano supporters further alleged that FTX listed an ADA perpetual contract so that it could manipulate the price and short the token.
You listed $NEAR & $APT before listing $ADA spot. Of course you listed the futures contracts to be able to short the price of Cardano.
I’ll believe the spot listing when I see it. Otherwise, seem like VCbs pic.twitter.com/Z9VqMZROy7
— Luis.py (@luis_m_22) October 23, 2022
Cardano enjoys strong community support
Even without an FTX listing, ADA has enjoyed tremendous community support from the crypto space.
In January, Ethereum’s co-founder Vitalik Buterin’s poll on which currency the ETH community would prefer if ETH did not exist shows ADA with the highest percentage of votes, beating out Bitcoin (BTC), Solana (SOL), and US Dollar.
Poll for Ethereum community. You wake up in 2035, and 80% of all transactions + savings in the world are in one currency that is not ETH. Which would you prefer it to be?
— vitalik.eth (@VitalikButerin) January 13, 2022
However, this strong community support is yet to translate into a positive run for the asset’s price. ADA is trading under $1 and has shed over 20% of its value in the last 30 days.
As of press time, it is trading for $0.36 after rising by roughly 4% within the last 24 hours, according to CryptoSlate data.
It's been over a year since you already said this.
Wen Aptos-like expediency? https://t.co/1VAtq1uVVQ
— St₳kΣ with Pride 🌈 (@StakeWithPride) October 23, 2022
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Bitcoin
$97,874.23
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,503.17
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana
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Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
FTX
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
Sam Bankman-Fried is the former CEO, and co-founder of defunct crypto exchange FTX and Alameda Research.
Vitalik Buterin stands as the pioneering force behind Ethereum, a transformative community-driven platform that fuels the cryptocurrency ether (ETH) and underpins a myriad of decentralized applications.