Crypto Market News: In what might most certainly be an impact of the U.S. Securities and Exchange Commission’s (SEC) lawsuits in opposition to two of the highest crypto exchanges Binance and Coinbase just lately, American monetary companies firm Robinhood introduced on Friday it will finish help to a few of the crypto market tokens it’s at present providing on its platform. The firm stated its overview of the crypto choices led to the choice of ending help for Cardano (ADA), Polygon (MATIC), and Solana (SOL), all of that are coincidentally prime 10 cash when it comes to market measurement. It stays to be seen if the platform would lengthen the delisting to another cash.
All three cash, Cardano (ADA), Polygon (MATIC), and Solana (SOL), nevertheless, didn’t present any speedy 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 determination on June 14, 2023.
Robinhood Crypto Delisting
Although the corporate didn’t explicity point out that the explanation for delisting is the Coinbase and Binance lawsuits, it’s speculated that it’s most certainly the case. On many events previously, the US SEC had acknowledged a number of crypto tokens as securities. In the current lawsuits, the regulatory company added as many as 16 new cryptocurrencies to the listing of what it deems to be securities, making it a complete of 67 tokens. The three cryptocurrencies will not be supported on Robinhood crypto from June 27, 2023, the corporate introduced in a statement:
“Based on our latest review, we’ve decided to end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27th, 2023 at 6:59 PM ET. No other coins are affected and your crypto is still safe on Robinhood.”
However, the platform will proceed to help buying and selling of Bitcoin, Ethereum, Litecoin, Dogecoin and Shiba Inu, amongst others.
Also Read: Shiba Inu News: 4 Trillion SHIB Worth $32 Million Moved To Binance, Price To Fall?
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