Binance, a leading cryptocurrency exchange, has declared its intention to remove several trading pairs involving TrueUSD (TUSD), a stablecoin with connections to Justin Sun, the founder of Tron.
On March 13, the exchange issued a statement announcing the forthcoming delisting of COMP/TUSD, EDU/TUSD, and PENDLE/TUSD pairs.
Additionally, BNB pairs with Arpa and EduCoin will also be discontinued. These changes are set to take effect on March 15, 2024, at 3:00 am UTC.
The decision to delist these pairs stems from Binance’s routine evaluation process, aimed at safeguarding users and ensuring the integrity of the trading environment.
The exchange pointed out that factors leading to the delisting of spot trading pairs could include inadequate liquidity and trading volume.
Nevertheless, Binance clarified the delisting’s implications, stating, “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.”
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“This ensures that TUSD remains accessible on the platform through its other trading pairs with major cryptocurrencies like Bitcoin, Cardano, Avalanche, and Bitcoin Cash.
In addition to removing specific trading pairs, Binance also announced the discontinuation of spot trading bot services for these pairs, effective concurrently with the delisting.
The platform advised users to adjust or terminate their bots by the deadline to prevent potential financial losses.
TUSD has encountered several challenges since late 2023. A significant security breach was reported on October 17, when a third-party service provider was compromised, leading to a potential exposure of user KYC and transaction data.
Moreover, the stablecoin’s stability was tested earlier this year when it deviated from its $1 peg.
On January 15, TUSD’s value dipped to $0.984 as a result of traders liquidating over $339 million in TUSD for Tether, following speculation about the token’s absence from Binance’s Manta launch pool initiative.
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