Crypto marketplace Bakkt has reportedly dropped Ethereum (ETH) competitors Cardano (ADA) and Solana (SOL), as well as blockchain scaling solution Polygon (MATIC).
Last week, the US Securities and Exchange Commission (SEC) labeled all three removed tokens as “crypto asset securities” in lawsuits against exchanges Binance and Coinbase.
Bakkt, the digital asset marketplace backed by the New York Stock Exchange’s (NYSE) Intercontinental Exchange (ICE). To delete support for the tokens until there is more regulatory clarity, according to a new Fortune Crypto report.
Bakkt’s decision comes in the wake of trading giant Robinhood shutting down trading services for the same three assets last week.
On Wednesday, popular social trading platform eToro halted purchases for MATIC, alongside smart contract platform Algorand (ALGO), gaming metaverse project Decentraland (MANA), and privacy-focused protocol Dash (DASH).
ADA is trading around $0.263 at the time of writing. The eighth-ranked crypto asset by market capitalization is down nearly 30% since June 5, the day the SEC’s lawsuit against Binance was announced.
SOL is trading at USD 15.37 at the time of writing. The 11th-ranked crypto asset by market capitalization is down more than 28% over the same period.
MATIC is currently trading around $0.593. The 13th ranked token by market cap is down more than 33% since the 5th.
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