Charles Hoskinson Responds To Cardano eToro Delisting

Charles Hoskinson called the delisting, “Fear, uncertainty, and disinformation.”

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Cardano eToro Delisting
Charles Hoskinson Responds.

Cardano eToro Delisting

Liquidity and Etoro https://t.co/X9sgPdpjgL

— Charles Hoskinson (@IOHK_Charles) November 23, 2021

eToro announced today that they delisted Cardano from their exchange. As of December 26th users will no longer be able to open new positions, and staking will no longer be available after December 31st.

eToro cited “business-related considerations in the evolving regulatory environment” for the delisting. The Israel-based exchange runs similarly to Robinhood and Webull that mixes traditional securities and digital assets, all with no trading fees.

The exchange originally added Cardano’s ADA token all the way back in 2018. eToro listed the apparently regulator-friendly Shiba Inu back in July.

Charles Hoskinson Responds

CEO of Input Output HK (IOHK) Charles Hoskinson took to Twitter, as he always does, to respond to the sudden delisting of Cardano from eToro.

“We had no indication of this from Etoro, and it’s rather unfortunate nothing was sent our way. We could have at least better understood their reasons,” Hoskinson said pointing out the lack of communication from the exchange.

The CEO was particularly perplexed by the “evolving regulatory environment” that led to the delisting. “There’s currently nothing we’ve received: no regulatory event; no subpoenas; no nothing from any regulatory agency; no threats of lawsuits.” Hoskinson added, “That’s why were so blindsided by it.”

In addition, Hoskinson pointed out that Cardano is listed in Japan, which he considers having, “The most stringent and strict” regulation of cryptocurrencies. He also pointed out that ADA is listed on regulatory-friendly Coinbase in the U.S.

Moreover, the Cardano founder also pointed out via today’s video that the Cardano Foundation is adding over 100 people to its staff soon. The budget for the hires will be around 25 million.

“Big chunk of that budget is regulatory outreach…”

I truly enjoy that the narrative about Cardano is changing from Ghostchain with no use and utility to "how will Cardano handle all this congestion? Blocks are full!!!! DApps are turning on!!! "

Dogs bark; Caravan moves on pic.twitter.com/7HUiJxj2au

— Charles Hoskinson (@IOHK_Charles) November 23, 2021

John-Paul

Writer and editor, based out of Toronto. More excited about Web3's future than its present. Proud Koala foster co-parent.