Robinhood Delists Multiple Cryptocurrencies Amid SEC Lawsuits and Price Crash

Robinhood is delisting Solana, Cardano, and Polygon in response to the SEC's crackdown on the digital asset industry. The SEC's lawsuits indicate that the three digital assets qualify as securities and thus offering them would qualify as selling unregistered securities. Robinhood's chief legal officer, Dan Gallagher, also stated that the firm will be reviewing its crypto options moving forward and is "actively reviewing" the SEC's complaints "to determine what, if any, actions to take."