- The crypto community challenged FTX for not listing the Cardano native token, ADA.
- FTX CEO said they are awaiting good Cardano validators parsing for deposits and withdrawals.
- Bankman-Fried believes Binance’s new policy to auto-convert USDC to BUSD is triggering another stablecoin war.
A crypto enthusiast complained on Twitter that the FTX crypto exchange, one of the largest in the market, refused to list the Cardano native token ADA among tradable coins. They claimed the exchange views Cardano ‘as a threat to everything FTX wants to control.’
FTX CEO Sam Bankman-Fried called the claim false, clarifying that the exchange listed ADA among derivative contracts and plans to include it in the spot trading section where deposits and withdrawals are feasible.
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 come almost automatically, but yeah we still have to make sure we have good Cardano validator parsing 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 incident when stablecoins battled for dominance, with USDC and USDT edging out TUSD, GUSD, and USDP.
1) Binance converts USDC –> BUSD, and we see the change in supplies.Thus begins the Second Great Stablecoin War. (The first one, fought in ~2018, ended with USDC and USDT edging out TUSD/GUSD/USDP.) https://t.co/X2VLOBOTev— SBF (@SBF_FTX) October 23, 2022