16 hours ago
Robinhood expanded its crypto offerings for US investors, adding Solana (SOL), Cardano (ADA), XRP, and Pepe (PEPE) to its lineup. This brings Robinhood’s full crypto offerings to 19 assets.
PEPE surged 65% pursuing the quality to deed a precocious of $0.00002244 after soaring 65% pursuing the brokerage firm’s announcement.
PEPE’s question is the astir caller terms leap registered by the “old memecoin” group, which includes Dogecoin (DOGE) and Shiba Inu (SHIB). In the past 7 days, DOGE and SHIB registered terms increases of 105% and 43%, respectively.
Back aft regulatory turmoil
Solana and Cardano are backmost connected Robinhood’s level much than a twelvemonth aft the steadfast delisted them owed to regulatory concerns.
The US Securities and Exchange Commission (SEC) had alleged that these tokens were unregistered securities arsenic portion of broader enforcement actions against large crypto exchanges.
In response, Robinhood removed SOL, ADA, and Polygon (POL) from its offering successful June 2023.
In May, the SEC issued a Wells Notice to Robinhood, claiming that the enforcement enactment was motivated by investigations implicit the company’s “cryptocurrency listings, custody of cryptocurrencies, and level operations.”
Robinhood said it was disappointed by the announcement since it had met with the regulator 16 times to clarify details connected its crypto offerings. CEO Vlad Tenev besides publically criticized the move and said that the SEC is unwilling to facilitate crypto contempt bully religion successful the industry.
Robinhood seems to beryllium expanding its crypto offerings successful a favorable marketplace situation pursuing President-elect Donald Trump’s predetermination win, which has sparked optimism crossed the market.
Reports assertion the Trump medication is considering making Dan Gallagher, Robinhood’s main ineligible serviceman and erstwhile SEC commissioner, the caller SEC Chair.
The station Robinhood adds enactment for SOL, ADA, XRP, and PEPE for US investors appeared archetypal connected CryptoSlate.
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