We all know how the SEC has been after some popular crypto exchanges like Binance, Coinbase and Binance US over these past few days. They are now indicating some of the other crypto assets could be securities. This statement has not been proven at the court yet but they made mention of some crypto assets like Solana, Matic and Cardano. These crypto assets are one of my favorites and I know the same for most crypto investors as well. From this statement, fear and panic must have gripped some other crypto exchanges of which Robinhood crypto exchange is not an exemption. I believe the fear and panic caused could have made them take such a decision just to be on the safer side. They are just scared they might also get sued by the SEC because they have these crypto assets listed on their crypto exchange. And the best thing they could do was to delist them. I know this could be a nice move for Robinhood crypto exchange but a very bad one for the whole crypto ecosystem. There was action or threat sent to Robinhood but they just wanted to play it safe. They want to maintain a clean name.
This should not be the case. I know the kind of fear everyone is in right now, especially those in crypto space. There is fear and panic everywhere. The best thing we should do now is to be united. I don’t see why a crypto exchange should just take a decision without taking into consideration the impact it was going to cause in the global market. Why should you be scared by just a mire statement from an institution. This is not how an entrepreneur should behave. Entrepreneurs are to stand firm in decision making. They should be bold enough so the opposition's actions and threats do not move them from their main goals, targets or aims. I know other crypto exchanges will soon join in this same action as well. I hope they just do not, the harm will be too much to handle. Please just don’t do it okay. We Crypto investors are pleading on any other exchange platform thinking of taking some action to refrain from it.
Information also reaching me is that crypto.com is attempting to do something that could also cause another shake in the crypto space. They are planning on closing their US Institutional investor side. This will only affect the US institutional side of investors. In case you have assets on crypto.com, it will be wise of you to take them out. The pressure is becoming uncontrollable for some crypto exchanges. They are all in fear. Binance is already in the fire and other crypto exchanges are taking measures just to avoid similar situations. We just hope their measures will not affect the crypto market further. The harm has already been done. Let us just minimize what could come out next. I think in order to play it safe as an investor as well, just take out your crypto assets from exchanges platforms. Get them to your decentralized crypto wallets. They will be saved there even if they lose value. This is better than a total lost of asset.
I just don’t know how this is going to end but I know there is always light at the end of the tunnel. I will be telling you what could be the end of all these in my subsequent posts; when the right time comes. Feel free to share your thoughts in the comment section..
Thank You
