# Cardano Founder Defends Development and Presses Gemini to List ADA

- URL: https://stocks.freetheai.org/news/cardano-founder-defends-development-and-presses-gemini-to-list-ada-983f41
- Published: 2026-10-09T11:56:00Z
- Category: crypto; sentiment: mixed; impact: medium
- Symbols: [COINBASE:ADAUSD](https://stocks.freetheai.org/symbols/COINBASE-ADAUSD), [NASDAQ:GEMI](https://stocks.freetheai.org/symbols/NASDAQ-GEMI), [KRAKEN:NIGHTUSD](https://stocks.freetheai.org/symbols/KRAKEN-NIGHTUSD)
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
- How write-ups are made: https://stocks.freetheai.org/how-we-write
- Not financial advice: https://stocks.freetheai.org/disclaimer

Cardano (COINBASE:ADAUSD) founder Charles Hoskinson has defended his network's long-term development while renewing demands for Gemini Space Station, Inc. Class A (NASDAQ:GEMI) to list the ADA token. Hoskinson also predicted that Midnight, a privacy-focused network built within the Cardano ecosystem, will eventually outgrow rival privacy coin Zcash.

The remarks come as ADA trades roughly 93% below its historical high, drawing criticism from some investors. Hoskinson argued that Gemini's decision not to support ADA has cost the trading platform an estimated $70 million in lost revenue over five years. Meanwhile, Midnight's NIGHT token (KRAKEN:NIGHTUSD) currently has a market capitalization of about $774 million, compared to Zcash's valuation in the $20 billion range, representing a significant gap for the project to close.

Investors are tracking several upcoming milestones for the ecosystem. The Cardano Foundation's bid for a custom .ada internet domain has advanced to the next review stage with ICANN, though final approval is not guaranteed and delegations are not expected until between 2028 and 2030. Additionally, the market is monitoring the integration of Midnight with major decentralized finance protocols and the implementation of Cardano's planned Leios upgrade.

## Key points

- Cardano founder Charles Hoskinson predicted that the privacy-focused Midnight network will eventually outgrow Zcash.
- Hoskinson urged Gemini to list ADA, estimating the exchange missed out on $70 million in revenue over five years.
- Cardano's ADA token trades roughly 93% below its all-time high, drawing criticism over its performance.
- The Cardano Foundation's bid for a .ada top-level internet domain has advanced to the next ICANN review stage.

## Questions and answers

### Why is the Cardano founder urging Gemini to list ADA?

Founder Charles Hoskinson claims that Gemini's decision to exclude ADA has cost the exchange approximately $70 million in revenue over a five-year period.

### What is the Midnight network and how does it compare to Zcash?

Midnight is a privacy-focused network in the Cardano ecosystem. Its NIGHT token has a market cap of $774 million, while Zcash is valued in the $20 billion range.

### When will the .ada internet domain be approved?

The application has advanced to the next ICANN review stage, but delegations from this round are not expected to occur until between 2028 and 2030.