Logo
Cardano Ecosystem

Crypto News Flash (EN)

11/08/2023

·

65 views


Relisting Cardano (ADA), MATIC, and Solana (SOL) on Robinhood: CEO's EU Expansion Strategy Unveiled

Robinhood missed its quarterly earnings expectations in Q3, leading to announcements that it will be expanding its crypto trading services to the EU. Asked about the possible relisting of ADA and Solana, CEO...

Relisting Cardano (ADA), MATIC, and Solana (SOL) on Robinhood: CEO's EU Expansion Strategy Unveiled

  • Robinhood missed its quarterly earnings expectations in Q3, leading to announcements that it will be expanding its crypto trading services to the EU.
  • Asked about the possible relisting of ADA and Solana, CEO Tenev said that he awaits regulatory clarity as he warned the US government about losing out on crypto innovation.

In June this year, Robinhood Markets announced that it would be delisting Cardano (ADA), Solana (SOL) and Polygon (MATIC) after the three were named in an SEC lawsuit against Binance and Coinbase. In a recent earnings call with investors and the media, CEO Vlad Tenev revealed the conditions for relisting the three tokens amid a broader uptick in crypto prices.

Robinhood recorded $467 million in third-quarter revenues, slightly missing out on the market’s estimate of $479 million. One of the most significant factors in the underwhelming performance was the drastic dip in crypto trading volume on the platform. In Q3, Robinhood recorded a 55% drop in crypto activity.

In a call with analysts and the media, CEO Vlad Tenev was tasked with explaining the company’s outlook on crypto moving forward.

“I think it’s hard for me to speculate on activity predictions and the broader cryptocurrency market,” he stated in response to the crypto downtrend.

We’re focused on using this as an opportunity to build our capabilities, build the platform. You’ve heard me talk in this call about how we want to make sure customers who are using Robinhood for crypto know that they’re getting terrific pricing. And so we’ve continued to make progress there.

Relisting Cardano (ADA) and Solana (SOL), Expanding into EU

With the dip in crypto volume, the question of the delisting of three of the most popular cryptos earlier was bound to come up, and it did. John Todaro of New York-based investment manager Needham & Company asked Tenev when we should expect the relisting.

“What would give you comfortability to relist some? Is it some of these ongoing suits maybe with Coinbase that need to get resolved? Any clarity there?” posed Todaro.

>> Buy Polygon (MATIC) quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<

In response, Tenev claimed Robinhood’s direction mostly depends on US authorities. He declined to point to one specific condition the tokens need to meet for their relisting.

“It’s hard to say what specifically we’re waiting for to give us comfort. I think that rules — rule-making court case data, that all helps,” stated Tenev.

And of course, we’ll continue to push for regulatory clarity because I think it would be a shame for the innovation that we’ve been seeing in crypto to be co-opted overseas. I think it’s very, very important for the US to remain a leader in every new technology in the industry that we possibly can.

The three tokens have all notched gains in the past 24 hours. MATIC and SOL have gained over 5%, with ADA gaining a paltry 1.5%.

Meanwhile, Robinhood is expanding to the European market. This follows the company’s expansion into the UK earlier this year. It comes after the enactment of MiCA regulatory framework, which holds crypto companies to higher standards.

Best Crypto Exchange for Everyone

  • Invest in Polygon and over 200+ cryptocurrencies on America’s most trusted crypto exchange.
  • Buy Polygon easily and with low fees via PayPal and credit card.
  • Enjoy super-low trading fees and access to more than 400 trading pairs.
  • Coinbase is regulated by the SEC and FINRA in the USA, and by CySEC and FCA in Europe.

100,000,000 Users

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on Crypto News Flash (EN)

ORIGINAL SOURCE

https://www.crypto-news-flash.com/relist...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from Crypto News Flash (EN)

See more
Cardano's Hydra Scaling Solution Soars with Latest v.0.16.0 Release
Crypto News Flash (EN)
Cardano's Hydra Scaling Solution Soars with Latest v.0.16.0 Release

last Monday at 2:59 PM

·

7 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)