Robinhood Ends Support For Solana, Cardano, Polygon

Robinhood (NASDAQ: HOOD) is looking to distance itself from certain crypto coins, evidently in light of recent crackdowns by the SEC on Coinbase Global (NASDAQ: COIN). The firm this morning issued a notice that it will be dropping support for three crypto currencies.

The cryptos in question are Cardano (ADA), Polygon (MATIC), and Solana (SOL). The company said it will end support for the three coins as of June 27, 2023, at 6:59 ET.

RELATED: Marc Cohodes To David Sacks: “Be Sure To Hire Some Great Lawyers” On Solana Gaffe

Any of these cryptos held by users after the cut-off date will be sold at market value, with the value credited to users accounts. Alternatively, users that live in a state where crypto transfers are permitted, can elect to transfer their holdings to a different wallet or platform.

No other crypto is said to be impacted.


Information for this story was found via Robinhood and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Robinhood’s 3Q 2021 Earnings Report Raises Troubling Questions

Yesterday after the market close, Robinhood Markets, Inc. (NASDAQ: HOOD) reported 3Q 2021 financial results...

Wednesday, October 27, 2021, 10:13:00 AM

Is Robinhood’s Stock a Buy?

Today I want to chat about Robinhood Markets (NASDAQ: HOOD). I’m going to tell you...

Saturday, August 7, 2021, 02:00:00 PM

Robinhood Failed to Report All Trade Executions to Public Data Feed

Robinhood appears to be embroiled in yet another potential controversy, after it failed to disclose...

Sunday, April 11, 2021, 12:09:00 PM

Robinhood Pays $70 Million to Resolve Regulatory Allegations

It appears that Robinhood faces yet another obstacle in the path towards its planned IPO:...

Wednesday, June 30, 2021, 03:30:00 PM

Robinhood Shares Decline: Falling Users Eclipse First Net Profit In Q2 2023

Robinhood Markets Inc. (NASDAQ: HOOD) posted better-than-expected second-quarter earnings on Wednesday, surprising analysts despite a...

Thursday, August 3, 2023, 10:49:00 AM