Robinhood Delists Cardano (ADA), Polygon (MATIC), Solana (SOL)
Crypto Market Information: In what may almost certainly be an impact of the U.S. Securities and Change Fee’s (SEC) lawsuits towards two of the highest crypto exchanges Binance and Coinbase just lately, American monetary companies firm Robinhood introduced on Friday it will finish assist to among the crypto market tokens it’s presently providing on its platform. The corporate stated its overview of the crypto choices led to the choice of ending assist for Cardano (ADA), Polygon (MATIC), and Solana (SOL), all of that are coincidentally high 10 cash by way of market dimension. It stays to be seen if the platform would prolong the delisting to another cash.
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All three cash, Cardano (ADA), Polygon (MATIC), and Solana (SOL), nonetheless, didn’t present any rapid response to the information of Robinhood delisting, whereas the crypto market kind of exhibits a sideways motion, forward of the US Federal Reserve’s rate of interest choice on June 14, 2023.
Robinhood Crypto Delisting
Though the corporate didn’t explicity point out that the rationale for delisting is the Coinbase and Binance lawsuits, it’s speculated that it’s almost certainly the case. On many events previously, the US SEC had acknowledged a number of crypto tokens as securities. Within the latest lawsuits, the regulatory company added as many as 16 new cryptocurrencies to the record of what it deems to be securities, making it a complete of 67 tokens. The three cryptocurrencies will now not be supported on Robinhood crypto from June 27, 2023, the corporate introduced in a statement:
“Primarily based on our newest overview, we’ve determined to finish assist for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June twenty seventh, 2023 at 6:59 PM ET. No different cash are affected and your crypto continues to be secure on Robinhood.”
Nevertheless, the platform will proceed to assist buying and selling of Bitcoin, Ethereum, Litecoin, Dogecoin and Shiba Inu, amongst others.
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