Robinhood adds new tokens like XRP and Pepe after Trump’s election drives crypto enthusiasm.
Robinhood Adds New Tokens Amid Crypto Surge
Robinhood has expanded its crypto offerings following a surge in digital asset interest after Donald Trump’s election win. The brokerage introduced new tokens, including XRP and the popular memecoin Pepe, as part of this expansion. This move comes after Trump’s election, which has brought significant optimism to the cryptocurrency space.
Re-listing Solana and Cardano
In addition to adding new tokens, Robinhood re-listed Solana and Cardano. These coins were previously removed from the platform last year due to the SEC’s regulatory crackdown on major crypto exchanges. This re-listing reflects a shift in the company’s approach to digital assets amid changing political and market dynamics.
Pepe Gains Momentum
Pepe, a memecoin based on a frog illustration, has seen a major rise in popularity. After Robinhood and Coinbase announced the token’s availability on their platforms, Pepe surged by 51%, reaching an all-time high. This surge highlights the continued appetite for memecoins within the retail crypto market.
Trump’s Pro-Crypto Stance
Throughout his campaign, Trump positioned himself as a supporter of the crypto industry, earning the nickname “the crypto president.” His policies are expected to reduce regulatory pressures on the industry. Trump has also publicly promised to fire SEC chair Gary Gensler, who has been instrumental in the regulatory actions taken against major exchanges like Coinbase and Binance.
Bitcoin Hits Record Highs
Trump’s election win has had a substantial impact on the broader crypto market. Bitcoin soared to a new record high of $92,000, reflecting the strong enthusiasm within the crypto space. Industry leaders see this as a major turning point, with expectations that Trump’s presidency will provide a more favorable regulatory environment for the crypto industry.
Changing Crypto Regulations Under Trump
The expected policy shifts under Trump’s presidency could benefit crypto companies significantly. His potential removal of Gensler could lead to relaxed regulations, paving the way for further growth. Robinhood’s recent actions signal a broader trend within the industry to capitalize on the postelection momentum.
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
