- The Cardano community argues the fate of ADA holders if FTX lists the coin.
- Youtuber says FTX will force-liquidate ADA tokens from the bankrupt lender Voyager.
- Cardano founder said he would be furious to hear about a forced liquidation.
Yesterday, Coin Edition reported the interaction between the CEO of FTX crypto exchange, Sam Bankman-Fried, and the crypto community when it complained that the business has deliberately refused to list the Cardano native token ADA.
The CEO provided satisfactory explanations for the FTX exchange not listing ADA among tradable assets until now. However, today, the Cardano community is divided on what may ensue after the FTX exchange ultimately lists ADA.
Popular crypto Youtuber, Ben Armstrong, argued that the Cardano community should be less worried about FTX’s listing of ADA. Instead, it should be more concerned about FTX force liquidating all the ADA tokens from the bankrupt crypto lender Voyager when the exchange officially takes over the lender.
The founder of the ADA blockchain, Charles Hoskinson, commented that If FTX lists Cardano, accounts holding ADA from the bankrupt lender will not face liquidation. Hoskinson added that he would be furious to hear about a forced liquidation.
Notably, the US arm of the FTX exchange, FTX.US, won the highest bid for the assets of the embattled lender Voyager last month in a highly competitive auction process. FTX bid approximately $1.422 billion, comprising the fair market value of all Voyager cryptocurrencies at a to-be-determined date.
While the crypto community worries that FTX may liquidate ADA tokens, a report on Bloomberg suggested that FTX.US proposed a recovery plan to restore around 72% cash of Voyager’s customers.
In other news, ADA remains the fifth largest crypto with a market cap of over $12 billion. It currently trades at $0.3598, with a 3% loss in the last seven days.
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