Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure.

10 Jun 2023, 08:00

Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure Fintech and crypto firm Robinhood has announced the delisting of cardano (ADA), solana (SOL), and polygon (MATIC) on June 27, 2023. This development comes after the publicly-listed company revealed that it was “actively reviewing” its coin listings in the wake of recent U.S. Securities and Exchange Commission (SEC) enforcement actions against Binance and Coinbase. Robinhood Shakes Up Crypto Offerings, Delists Cardano, Solana, and PolygonRobinhood, a financial services company headquartered in Menlo Park, California, intends to remove the 8th, 10th, and 11th largest crypto assets by market capitalization on June 27. The decision was disclosed in a blog post published on June 9, which indicates that cardano (ADA), solana (SOL), and polygon (MATIC) will be taken off Robinhood’s platform. In a statement released on Friday, Robinhood said, “We regularly review the crypto we offer on Robinhood. 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.” The company further reassured users that “no other coins are affected and your crypto is still safe on Robinhood.”