Charles Hoskinson, the founder of Cardano, has urged the U.S.-based cryptocurrency exchange Gemini to list ADA, Cardano’s native token. Hoskinson made this appeal during the Token2049 conference, currently taking place in Singapore. This annual event serves as a key gathering for major players in the cryptocurrency industry to discuss innovations and trends.
Hoskinson’s suggestion was delivered playfully as he visited Gemini’s booth at the conference. He was seen holding a sign with the message “When ADA?”, reminding the exchange that it has yet to offer trading support for the token.
Although presented in a lighthearted way, the appeal highlights the ongoing frustration within the Cardano community over Gemini’s omission of ADA from its platform.
I'm just saying… @Gemini pic.twitter.com/hyaNFLcVAt
— Charles Hoskinson (@IOHK_Charles) September 18, 2024
Gemini’s Continued Absence of ADA Support
Despite Cardano’s strong market position, Gemini has not listed the ADA token for trading. ADA is one of the most widely held and traded cryptocurrencies, boasting a market capitalization of approximately $11.84 billion.
It currently ranks as the 11th-largest digital asset in the world by market value, having recently been among the top ten. Cardano also has a dedicated following of over 3.5 million holders, many of whom have called for Gemini to support ADA.
While Gemini provides market data and some information about Cardano, it has not enabled the buying or selling of ADA. This stands in contrast to several other major exchanges, such as Binance, which have supported the token, particularly following the latest Cardano blockchain upgrade.
Community members have consistently lobbied for the token’s inclusion on Gemini, but thus far, the exchange has refrained from adding ADA to its lineup.
The reasons for this are unclear. Some speculate that regulatory concerns may be a factor, but that explanation is complicated because Gemini lists other tokens that have faced similar scrutiny from U.S. regulators.
Cardano (ADA) Prominence and Evolution
Cardano has made significant strides in its technological evolution, including a major recent upgrade that has bolstered its ecosystem and made it more attractive to developers and users alike.
Many top-tier exchanges were quick to support these upgrades, providing uninterrupted service for ADA holders. Binance, one of the largest exchanges in the world, fully embraced Cardano’s updates and has long listed ADA as a tradable asset.
However, Gemini remains one of the few prominent exchanges that has not yet included ADA, despite the token’s widespread use and importance in the crypto space.
Adding to the community’s frustration is the fact that other, less prominent assets are traded on the platform. In contrast, Robinhood—another U.S.-based platform—similarly provides market data for Cardano (ADA) but has not allowed users to trade it.
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Regulatory Challenges or Business Decisions?
Regulatory concerns could play a role in Gemini’s hesitance to list ADA, but this explanation lacks clarity. The U.S. Securities and Exchange Commission (SEC) has been vocal in its classification of certain cryptocurrencies, including Cardano’s ADA, as securities.
However, tokens like Solana (SOL) and Filecoin (FIL)—which have also been flagged by the SEC—are already available on Gemini, further complicating the regulatory argument.
Will Gemini Finally List Cardano (ADA)?
The cryptocurrency community now watches to see if Hoskinson’s public nudge at the Token2049 event will prompt Gemini to reconsider its stance.
As of now, Gemini has not provided any indication that it will list ADA soon. The exchange’s ongoing decision not to offer trading for one of the most valuable and traded cryptocurrencies continues to raise questions.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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