You have to install the 32 bit glibc:
# yum install glibc.i686 This removes the misleading 'no such file or directory' message when trying to execute a 32 bit binary. With that the 64 bit Fedora system is capable of executing 6432 bit binaries.
This also removes the misleading 'not a dynamic executable' message of ldd when calling ldd on a 32 bit dynamic executable.
Now you have to install missing 32 bit libraries the binaries under adt-bundle-linux/sdk/platform-tools are linked against:
# yum install zlib.i686 libstdc++.i686 ncurses-libs.i686 libgcc.i686 Thats it.
Background
Some background how to derive the above package names. For example looking at the output of
$ ldd adb linux-gate.so.1 => (0xf774f000) librt.so.1 => /lib/librt.so.1 (0xf7725000) libncurses.so.5 => not found libpthread.so.0 => /lib/libpthread.so.0 (0xf770b000) libstdc++.so.6 => not found libm.so.6 => /lib/libm.so.6 (0xf76df000) [..] means, that 2 libraries are still missing for adb.
For each 'not found' we have to lookup the package name, e.g.:
$ yum whatprovides '*libstdc++.so.6' [..] libstdc++-4.7.2-2.fc17.i686 : GNU Standard C++ Library [..] Now we take the package base name and add '.i686' to it to get the 32 bit version.