- Cardano founder Charles Hoskinson takes a dig at Gemini for refusing to list Cardano.
- Gemini has suspended withdrawals after Genesis filed for bankruptcy.
- Cardano users criticize Gemini for refusing to add support for ADA.
Cardano founder Charles Hoskinson has slammed Gemini a prominent crypto exchange owned by the Winklevoss twins, for refusing to accept the Cardano token ADA. He further argued that not listing ADA is “pretty tightly correlated” with bankruptcy risk.
According to reports, Gemini was aiming to recover up to $900 million from struggling crypto lender Genesis. Genesis is presently facing bankruptcy after its lending arm Gemini abruptly suspended withdrawals on November 16.
On the other hand, FTX, the world’s second-largest crypto exchange, went insolvent last month and lacked any spot ADA pair. Whereas, FTX CEO Sam Bankman-Fried tweeted that adding the coin was on the exchange’s agenda only a few weeks before it went bankrupt. ADA was the only significant crypto with no spot listing on FTX.
Cardano users and supporters have already scrutinized Gemini for refusing to add support for ADA while displaying the native tokens of other prominent proof-of-stake protocols.
Twitter’s crypto community stormed to ADA’s support and validated Hoskinson’s concern. A netizen said in reply, “if history is anything to go off of, anyone that refuses to list ADA can’t be trusted.”
Moreover, Matt Southerton replied to Hoskinson with, “How is it possible that the 9th largest coin by market cap is not listed on Gemini yet the exchange lists a long assortment of “questionable” (I’m being generous here) microcaps?”
In the past, Gemini also clashed with the XRP community in 2020 after refusing to offer the popular cryptocurrency. However, it felt justified after the Securities and Exchange Commission (SEC) sued Ripple in the United States.
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