Binance Delists TrueUSD Trading Pairs

Binance, a popular cryptocurrency exchange, has revealed its intention to remove several trading pairs of TrueUSD (TUSD), a stablecoin associated with Justin Sun, the founder of Tron. In a notice published on March 13, Binance announced that it would be delisting various TUSD pairs, including COMP/TUSD, EDU/TUSD, and PENDLE/TUSD. The exchange will also be delisting pairs for Arpa and EduCoin. The delisting process is scheduled to take place on March 15, 2024, at 03:00 UTC. Binance clarified that periodic delistings are conducted for the purpose of protecting users and maintaining a high-quality trading market. Poor liquidity and trading volume can be reasons for delisting spot trading pairs. It is important to note that delisting trading pairs does not mean that the asset will be completely removed from Binance. Users will still have the option to trade the base and quote assets of the delisted trading pairs on other available pairs on Binance. At present, TUSD is paired with prominent cryptocurrencies such as Bitcoin, Cardano, Avalanche, and Bitcoin Cash on Binance. On top of the delistings, Binance also mentioned that it will terminate its spot trading bot services for the affected pairs on the same date and time. Users are advised to update or cancel their bots before the delisting date to avoid potential losses. The TUSD stablecoin has encountered several issues since the fourth quarter of 2023. On October 17, the team behind TUSD raised concerns about a potential data leak regarding certain Know Your Customer (KYC) and transaction history data after a breach by a third-party vendor. The stablecoin’s value declined below its peg to the US dollar earlier this year as holders exchanged hundreds of millions of TUSD for Tether. On January 15, the price of TUSD dropped to $0.984 as traders sold over $339 million worth of TUSD tokens. Some users speculated that this sell-off could be connected to TUSD’s absence from the exchange’s Manta launch pool initiative.