Sam Bankman-Fried Provides Update for Cardano (ADA) Listing on FTX

Sam Bankman-Fried Cardano (ADA) sneak peak ftx partners

Crypto billionaire and Founder of FTX, Sam Bankman-Fried has hinted that Cardano (ADA) could finally be getting its spot listing. The Altcoin is currently the only top 25 crypto without a spot listing 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.”

Rebutting the allegations as false, FTX CEO Sam Bankman-Fried stated that he was willing to bet that ADA would be listed on the platform in the near future. The billionaire went on to say that spot ADA is also “on our roadmap.” SBF’s tweet read:

Bankman-Fried explained that the absence of ADA was not an intentional slight, and that it was more a logistical issue 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.”

Will ADA Benefit from the Listing?

Citing its MVRV-Z-Score, crypto analytics firm Sentiment recently underlined that ADA is significantly undervalued, and the price of ADA has been steadily decreasing past its descending resistance line since August 2021.

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 alleged 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.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).