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bitcoin
Bitcoin (BTC) $ 67,878.19
ethereum
Ethereum (ETH) $ 2,427.21
tether
Tether (USDT) $ 0.999816
bnb
BNB (BNB) $ 555.30
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.509763
binance-usd
BUSD (BUSD) $ 0.9999
dogecoin
Dogecoin (DOGE) $ 0.158567
cardano
Cardano (ADA) $ 0.326159
solana
Solana (SOL) $ 161.62
matic-network
Polygon (MATIC) $ 0.293102
polkadot
Polkadot (DOT) $ 3.78
tron
TRON (TRX) $ 0.163879
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    Robinhood’s determination to restrict crypto buying and selling makes good sense

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    Client buying and selling and funding app Robinhood is shifting to limit the holding and buying and selling of sure main cryptocurrencies on its platform, barely every week after the U.S. Securities and Alternate Fee’s lawsuits towards crypto exchanges Binance and Coinbase. The platform advised Congress earlier this week that it was analyzing its crypto choices following the lawsuits.

    There are two straightforward views one can have within the wake of Robinhood’s determination to finish assist for tokens from the Polygon, Solana and Cardano blockchains: That the corporate is being too skittish, or that it’s making a calculated enterprise determination.

    After reviewing Robinhood’s most up-to-date quarterly outcomes, we really feel that the choice is backed by some quantity of motive.

    Robinhood isn’t new to being poked by the federal government. In the course of the meme-stock mania, the corporate was dragged earlier than Congress to be questioned about its buying and selling controls and its willingness to supply refined buying and selling instruments to much less refined traders. Given this much less thrilling asset buying and selling market, the corporate is probably going loath to ask renewed curiosity from regulators and lawmakers.

    However that is only one piece of the puzzle. Robinhood solely must do a easy risk-reward calculation: It’s possible that the corporate merely doesn’t derive sufficient income from shoppers buying and selling these tokens to take the hassle to defend them.

    See also  Solana Cell nonetheless has a protracted option to go till it hits breakeven

    Robinhood didn’t instantly reply to a request for remark.

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