‘Cloud of uncertainty’ prompts Robinhood to nix ADA, MATIC, SOL
Robinhood is ending support for cardano (ADA), polygon (MATIC) and solana (SOL) — just days after all three were targeted by the SEC in both of the SEC’s suits against Binance and Coinbase. The assets won’t be tradable via Robinhood as of June 27, with the brokerage saying that customers with ADA, MATIC and SOL “still on Robinhood after the deadline will be automatically sold and credited” to their Robinhood account. “Earlier this week the SEC sued crypto companies Binance and Coinbase and alleged that a number of cryptocurrencies are unregistered securities. This includes Solana (SOL), Polygon (MATIC), and Cardano (ADA), which are currently supported on the Robinhood Crypto platform,” Robinhood said in an email to Blockworks. “This introduced a cloud of uncertainty around these assets and, as a result, our team has decided to end support for them,” Robinhood continued. The SEC is alleging that ADA, MATIC and SOL are all securities in the lawsuits. In arguing SOL is a securit...