Revolut to Delist Cardano, Polygon and Solana in the US Amid Regulatory Developments
June 30 (Cointime) - Revolut, a cryptocurrency-friendly neobank, will delist Cardano (ADA), Polygon (MATIC), and Solana (SOL) from its platform in the United States in September due to changing laws and regulations around cryptocurrency in the country. Revolut notified its U.S. customers about the change on June 29, stating that buying these tokens is immediately closed for all customers.
Cardano Price Dangles on Edge of Cliff Amid SEC Crackdown and Robinhood Delisting
June 28 (Cointime) - The price of Cardano has been affected by the recent crackdown on the crypto market by the US Securities and Exchange Commission, with ADA being among the 64 cryptocurrencies alleged to be securities. This has caused instability in the market, with Cardano's price falling from highs above $0.45 to $0.22 on June 10.
Robinhood to Delist Cardano (ADA) and Solana (SOL) as SEC Lawsuits Name Tokens as Securities
June 27 (Cointime) - Cardano (ADA) and Solana (SOL) experienced a greater decline than the overall cryptocurrency market on Tuesday, ahead of their delisting from trading app Robinhood at 6:59 p.m. ET. Robinhood had previously announced that it would stop supporting ADA, SOL and MATIC on June 27, following the Securities and Exchange Commission's (SEC) lawsuits against Binance and Coinbase.
Cardano Community Concerned About Potential Massive Sell-Off of ADA by Robinhood and Celsius
June 27 (Cointime) - The Cardano community is currently discussing the potential for a large sell-off of ADA by major platforms such as Robinhood and Celsius, which has raised concerns about a significant dump.
Massive Dogecoin Transfers and Robinhood's DOGE Stash Increase Drive Up Trading Volume and Price
June 27 (Cointime) - Over the past 24 hours, the trading volume of DOGE has increased by almost 20%, and two anonymous wallets have moved billions of DOGE. The transfers, which were spotted by the blockchain platform Whale Alert, may indicate crypto exchanges reshuffling their holdings.
Ark Invest Embraces Crypto: Bets on Coinbase and Robinhood Over Tesla
June 24 (Cointime) - Ark Invest has decreased its investment in Tesla while increasing its investment in crypto stocks, particularly Coinbase and Robinhood.
Robinhood Acquires No-Fee Credit Card Startup X1 for $95 Million in Cash
June 22 (Cointime) - Robinhood has announced its acquisition of X1, a no-fee credit card startup, for $95 million in cash. X1, which offers an income-based credit card with rewards, has raised a total of $62 million in venture-backed funding since its inception in 2020.
Binance.US Carries Out Major Layoffs Following SEC Lawsuit; Coinbase Loses Market Share to Robinhood
Binance.US has reportedly laid off at least 50 employees from its legal, compliance, and risks departments following the SEC's lawsuit accusing the crypto exchange of violating federal securities laws. The sources requested anonymity as the matter is private. Binance has pledged to defend itself "vigorously" against the lawsuit. Meanwhile, retail crypto traders are reportedly shifting from Coinbase to Robinhood, with analyst Dan Dolev suggesting that Coinbase may be losing market share in retail crypto transaction volume to Robinhood.
Securities Services Firm Robinhood’s Net Accumulated Funding Accounts Hit $23.1 Million in May, Up 1.3% From a Year Ago, but Active Users Fell 27%
According to news released by LiveSquawk, the securities service company Robinhood’s net cumulative fund account reached 23.1 million US dollars in May, a year-on-year increase of 1.3%, but the number of active users fell by 27%. Previously, Robinhood will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) at 6:59 GMT on June 28.
Whales and Institutions Dumping MATIC Tokens, Robinhood-Linked Whale Deposits 9.4 Million Tokens on Exchanges
Whales and institutions have been transferring significant amounts of MATIC tokens, leading to concerns of a coordinated sell-off. A whale associated with Robinhood, Jump Trading, and Cumberland has deposited 9.4 million MATIC tokens on various exchanges, coinciding with a 29% price drop. The delisting of altcoins by Robinhood, following regulatory concerns, has also contributed to the volatility of MATIC and other tokens. The future trajectory of these altcoins remains uncertain.
