FTX CEO Responds to Claims He Didn’t Intentionally List This Altcoin: “It Will Be Listed!”

Cryptocurrency exchange FTX CEO Sam Bankman-Fried took the spotlight in response to a dissatisfied user. Cardano (ADA) altcoin tweeted that the pair had already been added to the stock market’s roadmap.

FTX CEO: “Cardano Altcoin Takes Longer to List Because It Uses A Different Blockchain”

Bankman-Fried noted that the trading platform currently offers perpetual futures linked to Cardano for its international users.

FTX also allows its users to trade 3X Long Cardano Token (ADABULL) whose returns are three times the daily return of ADA.

According to data provided by cryptocurrency data company CoinGecko, the ADA token is currently the eighth largest cryptocurrency by market cap.

For now, ADA remains the only one among the top 25 cryptocurrencies that does not have a spot listing on the FTX exchange. This has led some outraged members of the Cardano community to spawn conspiracy theories as to why one of the biggest cryptocurrency exchanges has yet to adopt the ADA token.

Of course, FTX is not intentionally ignoring this token. As explained by Bankman-Fried, it is easier to add support for tokens with blockchains that the exchange already supports. So adding ERC20 tokens like ADABULL is a relatively smooth process.

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 says that for now, FTX needs to make sure it has good Cardano validator parsing for deposits and withdrawals.

It remains unclear when FTX will eventually add support for ADA spot trading. Last September, Business Insider reported that the exchange plans to add spot pairs for ADA and Polkadot’s DOT. FTX acquired the DOT spot pair in early January.

*Not investment advice.