Robinhood (NASDAQ: HOOD) is looking to distance itself from certain crypto coins, evidently in light of recent crackdowns by the SEC on Coinbase Global (NASDAQ: COIN). The firm this morning issued a notice that it will be dropping support for three crypto currencies.
The cryptos in question are Cardano (ADA), Polygon (MATIC), and Solana (SOL). The company said it will end support for the three coins as of June 27, 2023, at 6:59 ET.
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Any of these cryptos held by users after the cut-off date will be sold at market value, with the value credited to users accounts. Alternatively, users that live in a state where crypto transfers are permitted, can elect to transfer their holdings to a different wallet or platform.
No other crypto is said to be impacted.
Information for this story was found via Robinhood and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
