The changes target TrueUSD and other digital currencies
The Binance cryptocurrency exchange recently revealed its plans to delist several TrueUSD (TUSD) trading pairs, the stablecoin associated with Justin Sun, the founder of Tron.
The exchange published a notification on March 13 saying several TUSD pairs would be removed from the exchange, including COMP/TUSD, EPENDLE/TUSD and DU/TUSD. Arpa and EduCoin will also be delisted by the exchange on March 15, 2024, at 3 AM UTC.
Binance says it occasionally delists tokens to “protect users and maintain a high-quality trading market.” Some reasons for delisting spot trading pairs could include low trading volume and poor liquidity.
However, Binance clarified that delisting trading pairs doesn’t indicate that the asset is no longer on the platform. The exchange explained, “The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance.”
The TUSD stablecoin had several issues in the fourth quarter of last year, including when the TUSD team announced a possible leak of transaction history data and certain Know Your Customer information on October 17 after a third-party vendor was hacked.
The stablecoin also fell under its dollar peg after users exchanged hundreds of millions of TUSD for Tether earlier this year. The token’s price fell to $0.984 on January 15 after more than $339 million in TUSD tokens were sold on the market. X users suspected the sell-off could be due to TUSD not being documented on the company’s Manta launch pool enterprise.
