- eToro has shocked the crypto community by delisting Cardano’s Ida token.
- By the end of 2021, investors will not be able to buy Ada on the exchange platform.
- ETouro cited regulatory issues, but Cardano founder Charles Hoskinson allayed those concerns.
eToro has surprised corrupt investors by announcing that it will delist Cardano’s Ada Token and TRON Foundation’s Tron Token for US consumers from December 26.
The Israeli exchange cited regulatory concerns as the reason for its decision to delist both cryptocurrencies. From Boxing Day, US-based customers will no longer be able to purchase Ada or Tron, while stocking for these assets will expire on December 31.
“The regulatory landscape for cryptocurrencies is rapidly evolving,” an eToro spokesman told Insider. “As a result, we will limit the ability of US customers to open new positions for ADA and TRX, or to receive stacking rewards.”
Cardano, founded in 2015 by Ethereum co-founder Charles Hoskinson, has grown this year but has struggled in recent months. Ada hit an all-time high of 10 3.10 in early September from 18 cents in early 2021, but has since fallen to $ 1.70. According to data provider CoinMarketCap, it is still the sixth largest cryptocurrency in terms of market capitalization.
“Above all, we are disappointed with the move,” said a spokesman for EToro. “eToro will continue to be an active supporter of the crypto ecosystem.”
The news came as a shock to the crypto community, especially when the Luxembourg exchange bit stamp announced that it would list Cardano last week. Hoskinson allayed concerns.
“We weren’t even delisted,” he said TweetedIn response to a comment about BitStamp listings. “Ada is still at stake and non-US consumers can trade freely.”
eToro also announced that it would delist Tron, a local token of the TRON Foundation of Chinese-American businessman Justin Sun. The Tron has risen from 3 cents to 10 cents this year, and is currently the 30th largest cryptocurrency in CoinMarketCap in terms of market value.