Robinhood expanded its crypto choices for US buyers, including Solana (SOL), Cardano (ADA), XRP, and Pepe (PEPE) to its lineup. This brings Robinhood’s complete crypto choices to 19 belongings.
PEPE surged 65% following the information to hit a excessive of $0.00002244 after hovering 65% following the brokerage agency’s announcement.
PEPE’s motion is the latest value leap registered by the “outdated memecoin” group, which incorporates Dogecoin (DOGE) and Shiba Inu (SHIB). Previously seven days, DOGE and SHIB registered value will increase of 105% and 43%, respectively.
Again after regulatory turmoil
Solana and Cardano are again on Robinhood’s platform greater than a yr after the agency delisted them as a consequence of regulatory considerations.
The US Securities and Trade Fee (SEC) had alleged that these tokens had been unregistered securities as a part of broader enforcement actions in opposition to main crypto exchanges.
In response, Robinhood eliminated SOL, ADA, and Polygon (POL) from its providing in June 2023.
In Might, the SEC issued a Wells Discover to Robinhood, claiming that the enforcement motion was motivated by investigations over the corporate’s “cryptocurrency listings, custody of cryptocurrencies, and platform operations.”
Robinhood mentioned it was disillusioned by the discover because it had met with the regulator 16 instances to make clear particulars on its crypto choices. CEO Vlad Tenev additionally publicly criticized the transfer and mentioned that the SEC is unwilling to facilitate crypto regardless of good religion within the business.
Robinhood appears to be increasing its crypto choices in a positive market atmosphere following President-elect Donald Trump’s election win, which has sparked optimism throughout the market.
Reviews declare the Trump administration is contemplating making Dan Gallagher, Robinhood’s chief authorized officer and former SEC commissioner, the brand new SEC Chair.
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