Robinhood announced on June 27 that it will withdraw support from Cardano (ADA), Polygon (MATIC), and Solana (SOL).
Robinhood, which regularly reviews cryptocurrencies, has announced a new decision. In line with its most recent review, Robinhood has decided to end support for ADA, MATIC and SOL on June 27, 2023. Stating that other cryptocurrencies will not be affected by this situation, Robinhood said, “Your crypto money is still safe in Robinhood.”
What Does This Situation Mean?
Robinhood, in a statement to investors, stated that they can continue their ADA, MATIC and SOL transactions until June 27. In addition, the company announced that they will be able to transfer these cryptocurrencies off the platform.
Another statement made by the company on the subject was that after the deadline, all ADA, MATIC and SOL in the Robinhood Crypto account will be sold at market value. The issue that users were most curious about was the effect of the withdrawn cryptocurrencies on other assets. Responding to the discussions, the Robinhood front underlined that other cryptocurrencies in users’ wallets will not be affected by this situation.
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