Robinhood Re-lists Solana (SOL) After a Year-Long Removal
Release: 2024/11/14 22:59 Reading: 917
Robinhood Relists Solana, Cardano, and Ripple
Trading platform Robinhood has reinstated Solana (SOL) to its platform. Last year, Robinhood removed SOL, compelling users to sell their holdings at $16. Today, SOL is valued at over $216.
Alongside SOL, Robinhood has also reintroduced Cardano (ADA) and Ripple (XRP). This brings Robinhood's total cryptocurrency offerings for U.S. customers to 19.
Social media users have expressed strong reactions to the relisting. One user stated, "Will never forgive Robinhood for de-listing SOL at $16."
In June 2023, Robinhood initially announced the removal of SOL, ADA, and Polygon (MATIC) after the U.S. Securities and Exchange Commission (SEC) designated them as unregistered securities in cases against Binance and Coinbase.
Robinhood gave users a grace period until June 27 to transact these tokens, after which remaining holdings would be sold at market value. However, users in New York faced restrictions on transferring SOL.
Robinhood's decision to relist these coins aligns with recent shifts in the crypto market and rumors of potential changes in SEC leadership. Many within the crypto community anticipate that SEC Chair Gary Gensler's departure may lead to regulatory revisions for crypto assets.
Johann Kerbrat, Robinhood Crypto's General Manager, emphasized that the company is responding to customer demand for a wider selection of digital assets. "We consistently receive feedback from our customers expressing their desire for access to more crypto," Kerbrat stated in a press release.
In addition to relisting major tokens, Robinhood has also added PEPE, a popular meme coin that recently experienced a surge in value.
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