- Robinhood delisting 3 cryptocurrencies
- Deadline for tokens delisting
- Do not Panic here's why
- 2 Possible Solutions
Robinhood, a California-based financial services company, has revealed its plans to delist three prominent cryptocurrencies from its platform. In a recent blog post, Robinhood announced that it will be removing Cardano (ADA), Solana (SOL), and Polygon (MATIC) from its offerings, effective June 27. The decision was made as part of the company's routine review of the cryptocurrencies it supports.
Robinhood emphasized that this change only affects these three specific coins and assured its users that their other cryptocurrencies remain secure on the platform. The decision comes at a time when regulatory pressure on cryptocurrency exchanges, exemplified by the recent SEC lawsuits against Binance and Coinbase, has increased.
To address the evolving regulatory landscape, Robinhood stated that it is actively assessing its cryptocurrency offerings and considering appropriate actions. The delisting of ADA, SOL, and MATIC is a result of this ongoing review. By making these adjustments, Robinhood aims to navigate the regulatory environment while ensuring the safety and compliance of its platform.
Robinhood's Official Announcement:
Solana (Sol), Cardano (Ada) & Polygon (Matic) is being delisted from Robinhood
Rest assured, only Cardano (ADA), Solana (SOL), and Polygon (MATIC) will be affected by Robinhood's delisting decision. Your other cryptocurrencies remain secure and unaffected on the Robinhood platform. If you hold any ADA, MATIC, or SOL in your Robinhood Crypto account after the deadline, they will be sold at their current market value. The proceeds from the sale will be credited to your Robinhood buying power.
Deadline for tokens delisting
Robinhood's decision is alarming, but do not panic, here's why!
2 Possible Solutions for Robinhood Crypto users
Method 1: Transfer delisted tokens
Method 2 : Liquidate positions
Cardano (Ada), Polygon (Matic), Solana (SOL) update (no date) Robinhood. Available at: https://robinhood.com/us/en/support/articles/cardano-polygon-solana-update/ (Accessed: 11 June 2023).
Redman, J. (2023) Robinhood to delist Cardano, Solana, and polygon amidst sec regulatory pressure, Bitcoin News. Available at: https://news.bitcoin.com/robinhood-to-delist-cardano-solana-and-polygon-amidst-sec-regulatory-pressure/ (Accessed: 11 June 2023).
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