Buying and selling platform Robinhood has re-listed Solana (SOL) at over $216 a yr after it eliminated the crypto and bought any remaining cash for simply $16.
A number of customers on X (previously Twitter) slated as we speak’s re-listing, which got here as Cardano (ADA), PEPE, and XRP had been additionally added to the platform.
“Will never forgive Robinhood for de-listing SOL at $16,” one person mentioned, whereas crypto sleuth ZachXBT claimed that Robinhood pressured its customers to promote their cash, inflicting “massive losses.”
He requested, “What changes will Robinhood be making to regain trust so users are not forced to exit positions again in the future?”
Learn extra: How Leap helped US Robinhood customers commerce offshore at FTX
Robinhood de-listed SOL, ADA and MATIC
On June 7 final yr, Robinhood warned it might de-list SOL, ADA, and Polygon (MATIC) from its change by June 27. Customers had been allowed to purchase, promote, maintain, and switch any of those three cryptocurrencies up till the deadline.
After this, “any ADA, MATIC, and SOL still in your Robinhood Crypto account will be sold for market value and the proceeds will be credited to your Robinhood buying power.” It’s price noting that customers dwelling in New York weren’t allowed to switch their SOL.
ADA was price roughly $0.28 on the time whereas SOL was price simply over $16. In the present day, ADA is price nearly $0.6 (a 114% enhance) and SOL is price over $216 (a 1,250% enhance).
Learn extra: CHART: It’s been 262 days since Solana’s final main outage
On the time, Robinhood claimed it had reviewed its crypto providing earlier than the de-listing. Experiences famous that these tokens had been recognized as securities in a Securities and Alternate Fee lawsuit accusing Binance and Coinbase of providing unregistered securities.
Received a tip? Ship us an e-mail or ProtonMail. For extra knowledgeable information, comply with us on X, Instagram, Bluesky, and Google Information, or subscribe to our YouTube channel.
