Robinhood To Cease Support Of ADA, MATIC, SOL Amid Regulatory Pressure
Portfolio Pulse from Jose Rodrigo Safdiye
Robinhood Markets Inc (NASDAQ:HOOD) will cease support for Cardano (CRYPTO: ADA), Polygon (CRYPTO: MATIC), and Solana (CRYPTO: SOL) starting June 27th, 2023. Users can continue to trade and transfer these cryptocurrencies until the deadline, after which remaining coins will be sold at market value.
June 09, 2023 | 2:35 pm
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NEGATIVE IMPACT
Robinhood ceasing support for ADA, MATIC, and SOL may impact user base and trading volume on the platform.
Robinhood's decision to cease support for ADA, MATIC, and SOL may lead to a decrease in user base and trading volume as traders seek alternative platforms to trade these cryptocurrencies. This could negatively impact Robinhood's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100