Robinhood enlarged its cryptocurrency choices for US buyers, including Solana (SOL), Cardano (ADA), XRP and Pepe (PEPE) to its lineup. This brings Robinhood's complete cryptocurrency providing to 19 belongings.
PEPE surged 65% following the information and hit a excessive of $0.00002244 after rising 65% after notification of the brokerage agency.
PEPE's transfer is the newest worth spike seen by a gaggle of “outdated memecoins” that features Dogecoin (DOGE) and Shiba Inu (SHIB). Over the previous seven days, DOGE and SHIB have seen worth will increase of 105% and 43%, respectively.
Again after regulatory turbulence
Solana and Cardano are again on Robinhood's platform greater than a yr after the agency delisted them as a result of regulatory considerations.
The US Securities and Trade Fee (SEC) claimed these tokens had been unregistered securities as a part of broader enforcement actions towards main crypto exchanges.
In response, Robinhood eliminated SOL, ADA, and Polygon (POL) from its itemizing in June 2023.
In Could SEC launched Wells Discover to Robinhood, which claims the enforcement motion was motivated by an investigation into “cryptocurrency listings, cryptocurrency custody and platform operations.”
Robinhood mentioned it was upset by the announcement because it had met with the regulator 16 instances to make clear particulars of its cryptocurrency choices. CEO Vlad Tenev additionally publicly criticized the transfer, saying that The SEC is unwilling to assist cryptocurrencies regardless of the business's good religion.
Robinhood seems to be increasing its cryptocurrency choices amid a positive market setting following President-elect Donald Trump's election victory, which has sparked optimism throughout the market.
Reviews declare that the Trump administration is contemplating naming Dan Gallagher, Robinhood's chief authorized officer and former SEC commissioner, because the SEC's new chairman.
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