Robinhood has expanded its cryptocurrency offerings for U.S. customers, relisting Solana (SOL) and Cardano (ADA) while adding support for XRP and the meme coin Pepe (PEPE). This move reverses last year’s delistings during heightened regulatory scrutiny.
Key Developments
- Relisted Tokens: SOL and ADA return after being removed in 2023.
- New Additions: XRP and PEPE debut on the platform.
- Pepe’s Surge: PEPE soared 40% in 24 hours post-listing, nearing its all-time high.
Regulatory Context
The SEC previously classified SOL, ADA, and XRP as unregistered securities in lawsuits against Coinbase and Binance. While Ripple Labs secured a partial victory in 2023—ruling XRP wasn’t a security in retail sales—the SEC filed an appeal. Under Chair Gary Gensler, the SEC has aggressively targeted crypto firms, though industry observers anticipate a softer stance if leadership changes post-election.
Robinhood itself received a Wells Notice from the SEC in May 2024, signaling potential enforcement action over its crypto operations. Historically, Robinhood has maintained a cautious approach to listings, prioritizing regulatory compliance.
Meme Coin Momentum
Pepe’s rise reflects broader meme coin mania, now ranking among top meme coins by market cap alongside Dogecoin (DOGE) and Shiba Inu (SHIB). Robinhood’s meme coin offerings remain selective:
- 2018: DOGE listed.
- 2022: SHIB added with a promotional giveaway.
Price Movements (As of Publication)
| Token | Price Change (24h) | Current Price |
|---------|-------------------|--------------|
| PEPE | +40% | ~$0.00001822 |
| SOL | +2.2% | $216 |
| ADA | +6.8% | $0.59 |
| XRP | +6.8% | $0.71 |
Robinhood’s Strategy
Johann Kerbrat, GM of Robinhood Crypto, cited customer demand as the driver for expansion. The platform evaluates assets based on internal policies, though it declined to comment on Polygon’s absence.
“Crypto lowers barriers to entry, offering opportunities for those underserved by traditional finance.” — Johann Kerbrat
FAQs
Q: Why did Robinhood delist SOL and ADA in 2023?
A: Due to SEC lawsuits labeling them as unregistered securities.
Q: Is XRP fully compliant now?
A: A 2023 court ruling favored XRP in retail sales, but the SEC’s appeal leaves uncertainty.
Q: What’s next for Pepe?
A: Its volatility hinges on meme coin trends and exchange adoptions.
👉 Stay updated on crypto listings
Conclusion
Robinhood’s latest update signals cautious optimism amid evolving regulations. With PEPE’s record performance and renewed access to major altcoins, the platform aims to balance innovation with compliance.
Edited by Andrew Hayward
### SEO Notes
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