• Robinhood (HOOD) will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) on June 27th.
• These tokens were named as securities in recent SEC lawsuits against Binance and Coinbase.
• After the delisting, Robinhood will offer trading for 15 different crypto currencies, including bitcoin (BTC), ether (ETH), dogecoin (DOGE) and avalanche (AVAX).
Robinhood to End Support for All Tokens Named in SEC Lawsuit
Robinhood (HOOD), the popular trading platform, will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) on June 27th – the three tokens that were named as securities in recent Securities and Exchange Commission (SEC) lawsuits against Binance and Coinbase.
End of Support Deadline
Users are able to continue trading and transfer of the three tokens on the app until the deadline. After support stops on June 27, tokens left in a user’s account will be automatically sold for market value, Robinhood said.
Regular Review Prompts Decision
The decision comes as part of the company’s regular review of cryptocurrencies, Robinhood said. However, those were the only tokens that were listed on the trading platform that were named as securities by the recent SEC lawsuits.
Alternative Crypto Currencies Available
After the delisting, the platform will offer trading for 15 different crypto currencies, including bitcoin (BTC), ether (ETH), dogecoin(DOGE) and avalanche(AVAX)- all of which were not included in the SEC lawsuit as securities.