Robinhood, the trading service, recently announced that it will remove three digital assets: Cardano (ADA), Polygon (MATIC), and Solana (SOL). This decision comes after a review, and support for these coins will end on June 27th.
Robinhood clarified that no other cryptocurrencies will be impacted, except for ADA, MATIC, and SOL. Users can continue to buy, sell, hold, and transfer these tokens until the deadline.
After June 27th, support for ADA, MATIC, and SOL will cease, and any remaining tokens in users’ Robinhood Crypto accounts will be sold at the current market value. The proceeds will be credited to users’ Robinhood buying power.
It’s important to note that this delisting does not affect other cryptocurrencies held on Robinhood. However, users must either transfer their Cardano, Polygon, or Solana outside of their Robinhood account or the tokens will be sold automatically.
Robinhood has not provided a specific reason for the delisting or disclosed what they discovered during their review of these assets. It’s possible that regulatory actions within the industry influenced this decision. We’ll have to wait and see if more coins are affected or if other platforms also choose to delist these three assets.
