eToro surprised crypto investors by announcing that starting Dec. 26, Cardano’s island token and TRON Foundation’s tron token will be removed from the trading list for US customers.
The Israel-based exchange cited regulatory concerns as the reason for its decision to delist the two cryptocurrencies. Starting Boxing Day (December 26), US-based users will no longer be able to purchase islands or trons. In addition, the staking process for these assets will end on 31 December. In addition, wallets of tokens will only be able to perform the withdrawal function until the first quarter of 2022, and sales will be limited.
Founded in 2015 by ethereum co-founder Charles Hoskinson, Cardano has seen a huge surge this year but has been a struggle in recent months. The island rose from the 18 cents it traded in early 2021 to an all-time high of $3.10 in early September, but has since dropped to $1.70. It is still the sixth largest cryptocurrency by market cap, according to data provider CoinMarketCap.
The news came as a surprise to the crypto community, especially after Luxembourg exchange BitStamp announced last week that it would list cardano.
eToro also announced that famous entrepreneur Justin Sun will delist the TRON Foundation’s native token, tron. Tron is the 30th largest cryptocurrency by market capitalization on CoinMarketCap.
Finally, an eToro representative said in a statement, “First of all, we are sorry that we have taken this step,” and added:
“eToro will continue to be active supporters of the crypto ecosystem.”