Robinhood adds support for SOL, ADA, XRP, and PEPE for US investors

Credit : cryptoslate.com

Robinhood in depth its crypto providing for US buyers, including Solana (SOL), Cardano (ADA), XRP and Pepe (PEPE) to its lineup. This brings Robinhood’s whole crypto providing to 19 belongings.

PEPE rose 65% after the information earlier than reaching a excessive of $0.00002244 rising 65% after the brokerage agency’s announcement.

PEPE’s transfer is the most recent value leap recorded by the ‘outdated memecoin’ group, which incorporates Dogecoin (DOGE) and Shiba Inu (SHIB). Over the previous seven days, DOGE and SHIB recorded 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 corporate took them non-public over regulatory issues.

The US Securities and Trade Fee (SEC) had claimed that 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 providing in June 2023.

In Might, the SEC issued a Wells discover to Robinhood, alleging that the enforcement motion was prompted by investigations into the corporate’s “cryptocurrency listings, custody of cryptocurrencies, and platform actions.”

Robinhood mentioned it was upset by the message, because it had met with the regulator 16 instances to make clear particulars about its crypto providing. CEO Vlad Tenev additionally publicly criticized the transfer, saying that the SEC is unwilling to facilitate crypto, regardless of good religion within the sector.

Robinhood seems to be increasing its crypto providing in a positive market surroundings following the election victory of newly elected President Donald Trump, which has sparked optimism throughout the market.

In accordance with stories, the Trump administration is contemplating appointing Dan Gallagher, Robinhood’s Chief Authorized Officer and former SEC commissioner, as the following SEC chairman.

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