Market
Robinhood Crypto Relists Solana, Cardano, XRP, and Adds PEPE
Robinhood has reinstated Solana (SOL), Cardano (ADA), and Ripple (XRP) on its platform, while also adding PEPE to its listings. This follows the earlier removal of SOL, prompted by the SEC’s classification of the token as a security.
Following the listing announcement, Caradano (ADA) has surged by 7% in an hour, while PEPE is up by nearly 20%.
Robinhood’s Listing Hints a Change in US Regulatory Scene
In 2023, Robinhood had delisted Solana, Cardano, and XRP to align with regulatory actions. The decision came after the SEC filed lawsuits against firms like Coinbase, accusing them of selling unregistered securities.
Robinhood’s move was seen as part of its effort to comply with regulatory guidelines. However, it seems that the platform is optimizing its listing policy in anticipation of regulatory changes after the US election.
“We’ve consistently heard from our customers that they want access to more digital assets, and we’re excited to continue expanding our crypto offering,” said Robinhood Crypto’s VP Johann Kerbrat in a latest press statement.
Donald Trump’s win in the latest election means that the SEC will go through substantial changes in 2025. As previously reported by BeInCrypto, Trump is already looking at pro-crypto leaders for the US Treasury and the SEC.
Also, crypto has contributed significantly to Robinhood’s revenue this year. The firm’s Q3 2024 earnings report showed crypto trading volumes hitting $14.4 billion. This is a 114% increase compared to the same period last year.
Expanding Deeper into Crypto
During Q3, Robinhood ventured into new areas within Web3. It explored the European stablecoin market in September and subsequently launched crypto transfer services in the EU.
In October, the firm also entered the political prediction markets, signaling broader ambitions in decentralized finance. Paxos also recently introduced the “Global Dollar Network (USDG)” stablecoin, collaborating with Robinhood, Kraken, and Bullish.
Despite these advancements, Robinhood faced legal challenges this year. In September, the company agreed to settle customer complaints with payouts of up to $3.9 million, addressing issues that had been pending for several years.
Meanwhile, Ripple remains engaged in a high-profile legal battle with the SEC. Last month, Ripple filed a cross-appeal, challenging the SEC’s assertion that XRP is a security. Pro-XRP advocate John Deaton, despite his Senate campaign, continues to back Ripple’s case, reflecting the broader regulatory stakes.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.