In a recent announcement, cryptocurrency exchange Binance revealed its decision to delist several TrueUSD (TUSD) trading pairs associated with Tron founder Justin Sun. The move is part of Binance’s periodic delisting of tokens to maintain market quality and protect users. Let’s explore the details of the delisting and its implications.
Binance will remove several TUSD pairs from its exchange, including COMP/TUSD, EDU/TUSD, and PENDLE/TUSD, along with BNB pairs for Arpa and EduCoin. The delisting is scheduled for March 15, 2024, at 3:00 am UTC. The exchange cited reasons such as poor liquidity and trading volume for the delisting, emphasizing that it aims to safeguard users and uphold trading market standards.
Despite the delisting of specific trading pairs, TUSD will remain available within the exchange on other trading pairs. At present, TUSD is paired with prominent cryptocurrencies like Bitcoin, Cardano, Avalanche, and Bitcoin Cash on Binance. Users can continue trading TUSD through alternative trading pairs offered on the platform.
In addition to delisting trading pairs, Binance announced the termination of spot trading bots services for the affected pairs on the same date and time. Users utilizing trading bots for these pairs are advised to update or cancel their bots before the delisting date to avoid potential losses.
The TrueUSD stablecoin has encountered challenges, including a potential data breach in late 2023 and fluctuations in its peg to the US dollar earlier this year. Concerns arose after holders cashed out significant amounts of TUSD for Tether (USDT), leading to a drop in TUSD’s price below its peg. The delisting of trading pairs by Binance adds to the series of challenges faced by TUSD in recent times.
Binance’s decision to delist TrueUSD trading pairs reflects its commitment to maintaining a high-quality trading environment and protecting users. While the delisting may impact trading liquidity for the affected pairs, TUSD remains available on alternative trading pairs within the exchange. As the cryptocurrency landscape evolves, market participants must stay informed about changes and adapt their trading strategies accordingly.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up