Robinhood announces that it is no longer supporting Bitcoin SV

After January 25, all BSV in crypto accounts of the platform’s clients will be sold at market value

12.01.2023 - 07:00

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What’s new? On January 25, online broker Robinhood will stop supporting the native token of the Bitcoin SV (BSV) blockchain based on its latest review. After this deadline, all BSV in the platform’s crypto accounts will be sold at market value and the proceeds will be returned to clients. No other coins will be affected, and clients’ assets remain safe, Robinhood stressed.

Information on the Robinhood website

What is known about BSV? The Bitcoin Satoshi Vision (Bitcoin SV) blockchain was created in 2018 as a result of a hard fork of the Bitcoin Cash network, which in turn was a hard fork of the original Bitcoin blockchain. As of January 12, 06:50 UTC, BSV is trading at $41,57, having lost 6,3% in 24 hours, according to CoinGecko.

What is known about Robinhood? The online broker was founded in 2012, it provides investors with access to financial markets and allows them to trade stocks, ETFs, options, cryptocurrencies, and share fractions. There are no fees for trading on the platform. The company’s stock trades under the ticker HOOD on the US Nasdaq Stock Exchange. The value per security is $8,76, having gained 0,46% in 24 hours (according to Investing.com).

Earlier the exchange Huobi announced the delisting of 33 assets. The main reason stated in the blog of the exchange is to promote the healthy development of the blockchain ecosystem.

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