Robinhood Delists Bitcoin SV, Value Drops 10%

 Robinhood Delists Bitcoin SV, Value Drops 10%


Robinhood introduced that it’s going to now not assist Bitcoin SV from January 25, sending the crypto sinking some 10%.

Robinhood emailed a statement to all its customers stating it has determined to finish assist for Bitcoin SV (BSV). The buying and selling platform mentioned it made the choice following a periodic overview of the cryptocurrencies the platform presents.

Robinhood really helpful its prospects promote or, if attainable, switch their BSV by the cutoff date of January 25. After the deadline, the buying and selling platform mentioned it might promote any remaining BSV at market worth and credit score prospects’ accounts. 

BSV dip

BSV took a big dip following the announcement from Robinhood round 1 pm CET. The crypto dropped from simply above $44 to a low of $37.75 in three hours. Though up a bit since, BSV continues to be buying and selling under $40 and is down 11% up to now 24 hours.

Supply: BeInCrypto

SBF’s Robinhood shares

In the meantime, a good portion of buying and selling platform is caught up within the tribulations of former FTX chief Sam Bankman-Fried. Final yr, he bought 56 million Robinhood shares, a 7.6% stake within the firm, for $648 million.

Despite his earlier dedication to creating his former prospects complete, Bankman-Fried insisted on holding his Robinhood shares to pay his authorized charges. Nevertheless, the US Division of Justice lately confirmed that it had seized his 55 million shares.

Disclaimer

BeInCrypto has reached out to firm or particular person concerned within the story to get an official assertion in regards to the current developments, however it has but to listen to again.



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