Cardano Cut from Major Exchange Amid SEC Probe: Here's ADA Price Reaction
Major crypto exchange Huobi has announced the removal of the Cardano (ADA) trading pair from its platform, marking another setback for the popular digital asset. The decision comes in the midst of an ongoing investigation by the SEC into the nature of the ADA token.
In an official statement, Huobi cited its commitment to enhancing the trading experience for users as the rationale behind discontinuing several trading pairs, including ADA/USDD, effective from 8:00 a.m. (UTC) on June 29, 2023. However, the availability of ADA for trading against USDT and Bitcoin (BTC) will remain unaffected, indicating that the removal of ADA is not solely based on any inherent issues with the token but rather part of a broader strategic move by the exchange.
This is not the first time ADA has faced delisting in the wake of SEC allegations. Earlier this month, prominent platforms such as Bakkt and Robinhood also removed ADA from their listings following the SEC's accusation that ADA might be classified as a security.
Read more on U.Today https://u.today/cardano-cut-from-major-exchange-amid-sec-probe-heres-ada-price-reaction
Major crypto exchange Huobi has announced the removal of the Cardano (ADA) trading pair from its platform, marking another setback for the popular digital asset. The decision comes in the midst of an ongoing investigation by the SEC into the nature of the ADA token.
In an official statement, Huobi cited its commitment to enhancing the trading experience for users as the rationale behind discontinuing several trading pairs, including ADA/USDD, effective from 8:00 a.m. (UTC) on June 29, 2023. However, the availability of ADA for trading against USDT and Bitcoin (BTC) will remain unaffected, indicating that the removal of ADA is not solely based on any inherent issues with the token but rather part of a broader strategic move by the exchange.
This is not the first time ADA has faced delisting in the wake of SEC allegations. Earlier this month, prominent platforms such as Bakkt and Robinhood also removed ADA from their listings following the SEC's accusation that ADA might be classified as a security.
Read more on U.Today https://u.today/cardano-cut-from-major-exchange-amid-sec-probe-heres-ada-price-reaction
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