Leading cryptocurrency exchange Binance has announced its intention to remove several trading pairs, including TrueUSD (TUSD), a stablecoin linked to Tron founder Justin Sun.
On March 13, the exchange released a statement announcing the delisting of COMP/TUSD, EDU/TUSD and PENDLE/TUSD pairs.
In addition, the BNB pair with Arpa and EduCoin will also be delisted. These changes will take effect at 3:00 am GMT on March 15, 2024.
The decision to delist these pairs is due to Binance's regular evaluation process to protect users and ensure the integrity of the trading environment.
The exchange noted that lack of liquidity and trading volume may be a factor leading to the delisting of pairs in spot trading.
However, #Binance clarified the implications of the delisting, stating that the delisting of pairs for spot trading does not affect the availability of tokens on Binance Spot.
Users will still be able to trade the underlying and quoted assets of the Spot trading pair on other trading pairs available on Binance.
This ensures that #TUSD will still be available on the platform via other trading pairs with major cryptocurrencies such as #Bitcoin , #Cardano , Avalanche and Bitcoin Cash.
In addition to removing certain trading pairs, alongside the delisting, Binance also announced the discontinuation of the bot service for spot trading of these pairs.
The platform advised users to set up or terminate their bots before the deadline to avoid potential financial losses.
Since the end of 2023, TUSD has faced a number of problems: On October 17, a third-party service provider was compromised and a major security breach was reported that could have exposed KYC data and user transactions.
In addition, earlier this year, the stability of the stablecoin was tested by a deviation from its peg to $BTC On January 15, the value of TUSD fell to $0.984 as traders liquidated more than $339 million for Tether following speculation over the token's exclusion from the Manta pool initiative on Binance.
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