NYSE-Backed Crypto Marketplace Bakkt Delists Cardano, Solana and Polygon After SEC Calls Them Securities: Report
Crypto market Bakkt has reportedly delisted the Ethereum (ETH) rivals Cardano (ADA) and Solana (SOL), in addition to the blockchain scaling answer Polygon (MATIC).
Final week, the U.S. Securities and Trade Fee (SEC) labeled all three of the delisted tokens “crypto asset securities” in lawsuits in opposition to the exchanges Binance and Coinbase.
Bakkt, the digital asset market backed by New York Inventory Trade (NYSE) operator Intercontinental Trade (ICE), is removing assist for the tokens till there’s extra regulatory readability, based on a brand new Fortune Crypto report.
Bakkt’s choice comes within the wake of retail buying and selling large Robinhood eradicating buying and selling companies for a similar three property final week.
On Wednesday, standard social buying and selling platform eToro halted purchases for MATIC, along with good contract platform Algorand (ALGO), gaming metaverse venture Decentraland (MANA) and privacy-focused protocol Sprint (DASH).
ADA is buying and selling round $0.263 at time of writing. The eighth-ranked crypto asset by market cap is down almost 30% since June fifth, the day the SEC’s lawsuit in opposition to Binance was introduced.
SOL is buying and selling at $15.37 at time of writing. The Eleventh-ranked crypto asset by market cap is down greater than 28% over the identical timeframe.
MATIC is buying and selling round $0.593 at the moment. The Thirteenth-ranked token by market cap is down greater than 33% for the reason that fifth.
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