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Robinhood to Delist Cardano (ADA) and Solana (SOL) as SEC Lawsuits Name Tokens as Securities

June 27 (Cointime) - Cardano (ADA) and Solana (SOL) experienced a greater decline than the overall cryptocurrency market on Tuesday, ahead of their delisting from trading app Robinhood at 6:59 p.m. ET. Robinhood had previously announced that it would stop supporting ADA, SOL and MATIC on June 27, following the Securities and Exchange Commission's (SEC) lawsuits against Binance and Coinbase.

Cardano Community Concerned About Potential Massive Sell-Off of ADA by Robinhood and Celsius

June 27 (Cointime) - The Cardano community is currently discussing the potential for a large sell-off of ADA by major platforms such as Robinhood and Celsius, which has raised concerns about a significant dump.

Massive Dogecoin Transfers and Robinhood's DOGE Stash Increase Drive Up Trading Volume and Price

June 27 (Cointime) - Over the past 24 hours, the trading volume of DOGE has increased by almost 20%, and two anonymous wallets have moved billions of DOGE. The transfers, which were spotted by the blockchain platform Whale Alert, may indicate crypto exchanges reshuffling their holdings.

Ark Invest Embraces Crypto: Bets on Coinbase and Robinhood Over Tesla

June 24 (Cointime) - Ark Invest has decreased its investment in Tesla while increasing its investment in crypto stocks, particularly Coinbase and Robinhood.

Robinhood Acquires No-Fee Credit Card Startup X1 for $95 Million in Cash

June 22 (Cointime) - Robinhood has announced its acquisition of X1, a no-fee credit card startup, for $95 million in cash. X1, which offers an income-based credit card with rewards, has raised a total of $62 million in venture-backed funding since its inception in 2020.

Binance.US Carries Out Major Layoffs Following SEC Lawsuit; Coinbase Loses Market Share to Robinhood

Binance.US has reportedly laid off at least 50 employees from its legal, compliance, and risks departments following the SEC's lawsuit accusing the crypto exchange of violating federal securities laws. The sources requested anonymity as the matter is private. Binance has pledged to defend itself "vigorously" against the lawsuit. Meanwhile, retail crypto traders are reportedly shifting from Coinbase to Robinhood, with analyst Dan Dolev suggesting that Coinbase may be losing market share in retail crypto transaction volume to Robinhood.

Securities Services Firm Robinhood’s Net Accumulated Funding Accounts Hit $23.1 Million in May, Up 1.3% From a Year Ago, but Active Users Fell 27%

According to news released by LiveSquawk, the securities service company Robinhood’s net cumulative fund account reached 23.1 million US dollars in May, a year-on-year increase of 1.3%, but the number of active users fell by 27%. Previously, Robinhood will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) at 6:59 GMT on June 28.

Whales and Institutions Dumping MATIC Tokens, Robinhood-Linked Whale Deposits 9.4 Million Tokens on Exchanges

Whales and institutions have been transferring significant amounts of MATIC tokens, leading to concerns of a coordinated sell-off. A whale associated with Robinhood, Jump Trading, and Cumberland has deposited 9.4 million MATIC tokens on various exchanges, coinciding with a 29% price drop. The delisting of altcoins by Robinhood, following regulatory concerns, has also contributed to the volatility of MATIC and other tokens. The future trajectory of these altcoins remains uncertain.
Whales and Institutions Dumping MATIC Tokens, Robinhood-Linked Whale Deposits 9.4 Million Tokens on Exchanges

Shiba Inu (SHIB) Survives Robinhood's Delisting of Cryptocurrencies

Robinhood, the American trading platform, has announced that it will delist Cardano, Solana, and Polygon from its platform by June 27, 2023. However, Shiba Inu (SHIB), the popular canine-themed cryptocurrency, will remain unaffected by this decision. The burn rate of SHIB tokens has increased significantly, potentially contributing to increased scarcity and value. The delisting decision may have been influenced by recent lawsuits involving major exchanges like Binance and Coinbase initiated by the United States Securities and Exchange Commission (SEC).

Robinhood to Delist Cardano, Polygon and Solana Following SEC Charges Against Crypto Exchanges

Robinhood, a brokerage firm, has announced that it will delist Cardano, Polygon, and Solana after the US Securities and Exchange Commission (SEC) classified them as securities in its charges against two major crypto exchanges. The firm will end support for the three cryptocurrencies on June 27, but investors can still buy, sell, and hold ADA, MATIC, and SOL until the deadline.