.png){kind=logo}
Binance just stated that it will delist numerous TrueUSD (TUSD) trading pairs, a stablecoin founded by Tron inventor Justin Sun. The delisting is part of Binance's regular review process, which ensures a high-quality trading market and protects users. The impacted trade pairings, which include COMP/TUSD, EDU/TUSD, and PENDLE/TUSD, as well as BNB pairs for Arpa and EduCoin, will be withdrawn from the exchange on March 15, 2024, at 3:00 UTC.
Binance's decision to delist these trading pairs was based on criteria such as low liquidity and trading volume. However, delisting a spot trading pair does not imply that the asset has been withdrawn from Binance. Users can continue to trade the base and quote assets of the delisted pairs on other trading pairs on the exchange.
Despite the delisting of these trading pairs, TUSD will remain accessible on the exchange's remaining trading pairs. TUSD is now linked with notable cryptocurrencies such as Bitcoin (BTC), Cardano (ADA), Avalanche (AVAX), and Bitcoin Cash (BCH) on Binance.
In addition to delisting the TrueUSD pairs, Binance will discontinue spot trading bot services for the impacted pairs on the same day and time. Users should update or terminate their bots before the delisting date to minimize any damages.
The TUSD stablecoin has faced several hurdles since the fourth quarter of 2023. On October 17, the TUSD team revealed a probable disclosure of some Know Your Customer (KYC) and transaction history data from its customers as a result of a third-party vendor compromise.
Earlier this year, TUSD went below its dollar peg when holders cashed out hundreds of millions of TUSD for Tether (USDT). On January 15, the token's price dropped to US$0.984 after traders sold approximately US$339 million in TUSD tokens. Some people suspected that the sell-off was caused by TUSD not being featured on the exchange's Manta launch pool scheme.
Binance's move to delist many TrueUSD trading pairs is part of the company's continued efforts to maintain a high-quality trading environment. While this may have an impact on traders utilizing these specific pairings, TUSD will still be available on the exchange's other trading pairs. Users should remain up to speed with Binance's statements and make appropriate modifications to their trading strategy to prevent any possible risks.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
