Robinhood Delisted Solana, Polygon and Cardano
It seems that the crypto exchange Robinhood just delisted Solana, Polygon, and Cardano. Check out the latest reports about this below. Robinhood delists important digital assets Accoridng to the latest reports, the impor...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
It seems that the crypto exchange Robinhood just delisted Solana, Polygon, and Cardano. Check out the latest reports about this below.
Robinhood delists important digital assetsAccoridng to the latest reports, the important crypto exchange Robinhood is reportedly delisting a handful of prominent crypto assets in response to the U.S. Securities and Exchange Commission (SEC) suing Binance and Coinbase for allegedly violating securities laws.
A new report by Bloomberg stated the fact that Robinhood’s chief legal officer, Dan Gallagher, told members of Congress that the firm is delisting smart contract platforms Solana (SOL), Cardano (ADA), and Polygon (MATIC) after the SEC cracked down on the digital asset industry earlier this week.
More than that, it’s also important to note that Gallagher told the House Agriculture Committee that Robinhood will also be reviewing its crypto options moving forward.
Gallagher, who himself is a former commissioner of the regulatory agency, says that Robinhood is “actively reviewing” the SEC’s complaints “to determine what, if any, actions to take.”
As noted by the online pubcalition the Daily Hodl, earlier this week, the SEC filed lawsuits against both Binance and Coinbase. As you know, these are the two biggest crypto exchange platforms in the world, for allegedly violating securities laws.
According to recent data from Cathie Wood’s ARK Invest, the hedge fund made three purchases of Coinbase (COIN) stock on June 6th, amounting to a total of 419,000 shares worth over $21 million. This move comes after the recent SEC lawsuit against Coinbase caused a drop in share prices.
The SEC first filed a lawsuit against Coinbase earlier this week, alleging that the products it offers were all “crypto asset securities” that fell under the jurisdiction of securities laws.
According to the regulatory agency, Coinbase is being sued for allegedly “operating as an unregistered securities exchange, broker, and clearing agency” and “failing to register the offer and sale of its crypto asset staking-as-a-service program.”
Why this matters
This altcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoGazetteRelated market context
Solana surpasses Robinhood Chain in 24-hour DEX volume, reclaiming top spot
Solana's regained dominance highlights its ecosystem's resilience and maturity, while Robinhood Chain's rapid rise underscores evo...
Coinbase CEO: CLARITY Act nearing 60 Senate votes for digital asset regulation
The CLARITY Act's progress could significantly shape U.S. crypto regulation, impacting market stability and investor confidence in...
Coinbase CEO sees Bitcoin at $400,000, but first it has to clear $81,000
Coinbase CEO Brian Armstrong says Bitcoin’s latest bottom is already in, even as the cryptocurrency remains below a level that his...
Crypto never closes, but Bitcoin, Ethereum, XRP and Solana now move on Wall Street time
Bitcoin trades nonstop, but a decade of data shows its volatility increasingly follows Wall Street’s clock. A recent study found t...
Solana Tokenized Stocks Hit Record $684M as Trading Surges
Tokenized equities on Solana have climbed to an all-time high of roughly $684 million as real-world assets, stock trading, and new...
Banks get cross-exchange crypto hedge relief under Canada’s new 2027 capital rule
Canada’s banking regulator has finalized a narrow change to its crypto capital rules that should reduce capital overstatement for...