Cardano (ADA), Polygon (MATIC), and Solana (SOL) are being delisted by Robinhood. What will happen to Dogecoin (DOGE) and Shiba Inu (SHIB)?
The impact of the lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase continues to affect the market. Recently, Robinhood announced that it would end support for certain altcoins on Friday. The company stated that its review of crypto offerings led to the decision to terminate support for Cardano (ADA), Polygon (MATIC), and Solana (SOL), which are among the top 10 cryptocurrencies in terms of market capitalization. It is not yet clear whether Robinhood will expand the list of altcoins to be delisted. However, ADA, MATIC, and SOL did not show any immediate reaction to the delisting news from Robinhood. The crypto market is currently trading sideways ahead of the Federal Reserve's interest rate decision on June 14.
"Based on our latest review, we have decided to end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 27. No other coins are affected. Your cryptocurrency is still safe on Robinhood."
Robinhood will end support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) on June 28 at 01:59 AM. The SEC had previously made statements suggesting that these tokens may be considered securities. While the company did not explicitly state that the delisting was due to the Coinbase and Binance lawsuits, it is widely speculated to be the reason. Robinhood will continue to support the trading of Bitcoin, Ethereum, Litecoin, Dogecoin, Shiba Inu, and others.