Cardano Founder Claims Gemini Missed Out on Over $70 Million by Not Listing ADA
Gemini's decision to skip Cardano just cost them a nine-figure opportunity—and the founder isn't letting them forget it.
The Price of Exclusion
Charles Hoskinson, the architect behind Cardano, recently spotlighted a massive financial oversight by the Gemini exchange. By choosing not to list ADA, the platform's native token, Gemini reportedly forfeited more than $70 million in potential revenue. That's not just a rounding error; it's a strategic blunder that echoes through trading desks and boardrooms.
Hoskinson's calculation throws a harsh light on the high-stakes game of exchange listings. It's a reminder that in crypto, picking winners isn't just about curating a portfolio—it's about capturing the fees from the tidal waves of capital they attract. Every major token that surges represents a river of trading commissions, staking rewards, and network activity that exchanges tap into.
For Gemini, a platform that prides itself on regulatory compliance and institutional appeal, the omission is particularly ironic. It's the finance equivalent of meticulously setting a formal table but forgetting to serve the main course everyone came for. While they were busy polishing their silverware, a fortune in fees walked out the door to competitors who had a seat for ADA.
This episode cuts to the core of crypto's disruptive ethos: legacy gatekeeping often fails to recognize value until it's too late. The networks and communities that build real utility have a way of making skeptics—and hesitant exchanges—pay for their caution. Sometimes, that payment is measured in hundreds of millions.
Cardano founder Charles Hoskinson has criticized Gemini for refusing to list ADA, arguing that the decision cost the platform $70 million in lost revenue. Speaking in an interview with Blockchain Daily, Hoskinson highlighted Gemini as the only major crypto exchange that does not support ADA, despite the token’s widespread adoption and popularity.
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