Dan Gallagher, Robinhood's chief legal officer, testified before the House Agriculture Committee on Tuesday that the stock trading app was "actively reviewing" tokens the Securities and Exchange Commission deemed were securities in lawsuits against Binance and Coinbase.
On Friday, Robinhood, which recently expanded into crypto, said in an update on its website that it will delist Solana's SOL, Cardano's ADA, and Polygon's MATIC beginning June 27 at 6:59 p.m. ET. Users will be able to buy and sell the tokens up until the end of June. However, come then, any existing tokens in a user's wallet "will be sold for market value."
