Crypto exchange Binance has announced plans to delist several TrueUSD (TUSD) trading pairs, a stablecoin associated with Tron founder Justin Sun.
On March 13, Binance published a notice saying it would remove several TUSD pairs from the exchange. They include COMP/TUSD, EDU/TUSD and PENDLE/TUSD. Furthermore, the exchange will also delist BNB (BNB) pairs for Arpa and EduCoin. The exchange will delist the pairs on March 15, 2024, at 3:00 am UTC.
The exchange explained it periodically delists tokens to “protect users and maintain a high-quality trading market.” Reasons for delisting spot trading pairs may include poor liquidity and trading volume. However, the exchange clarified that delisting trading pairs does not mean the asset is completely gone from Binance. The exchange wrote:
“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.”
This means the stablecoin will still be available within the exchange on its other trading pairs. At the time of writing, TUSD is paired with prominent crypto tokens like Bitcoin (BTC), Cardano (ADA), Avalanche (AVAX) and Bitcoin Cash (BCH) on Binance.
Apart from delisting the trading pairs, Binance also highlighted that it would terminate the spot trading bots services for the pairs on the same date and time. The exchange urged users to update or cancel their bots before the date to avoid potential losses.
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The TUSD stablecoin has faced many issues since the fourth quarter of 2023. On Oct. 17, the team behind the stablecoin announced a potential leak of certain Know Your Customer and transaction history data of its users after a third-party vendor was breached.
The stablecoin fell below its dollar peg earlier this year after holders cashed out hundreds of millions of TUSD in exchange for Tether (USDT). On Jan. 15, the token’s price dropped to $0.984 after traders sold more than $339 million in TUSD tokens. Users on X speculated that the sell-off may be related to TUSD not being listed on the exchange’s Manta launch pool initiative.
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