Robinhood added Stellar Lumens (XLM) and Avalanche (AVAX) to its platform, bringing total supported cryptocurrencies to 15. XLM gained 6% in 24 hours following the announcement.
Robinhood announced the addition of Stellar Lumens (XLM) and Avalanche (AVAX) tokens to its cryptocurrency platform, expanding its total supported assets to 15. Both tokens saw price increases following the news, with XLM trading at $0.13 (up 6% in 24 hours) and AVAX at $29.93 (up 8.2%), outperforming Bitcoin and Ether. The announcement comes amid regulatory challenges for Robinhood, including a $30 million fine from New York regulators for alleged anti-money laundering violations. CEO Vlad Tenev highlighted the company's focus on carefully vetting new cryptocurrency listings, contrasting with competitors facing SEC scrutiny.