HomeAltcoinsBinance US To Delist Justin Sun's TRON (TRX)

Binance US To Delist Justin Sun’s TRON (TRX)

Binance US has announced that it will delist TRON (TRX) and Spell (SPELL) from its trading platform on April 18.

Binance US, the American branch of Binance, the leading cryptocurrency exchange in the world, has announced that it will delist TRON (TRX) and Spell (SPELL) from its trading platform on April 18.

The delisting comes three weeks after the Securities and Exchange Commission (SEC) accused Justin Sun, TRON’s founder, of manipulating TRX’s price.

Although withdrawals for TRX and SPELL will still be possible, trading and deposits will no longer be available. The exchange will continue to support USDT and USDC stablecoins issued on the TRON network.

The decision to delist was prompted by a routine review process, during which the company considers a variety of factors such as trading volume, liquidity, and regulatory standing in the US. Other factors that may influence a delisting decision include evidence of fraud or unethical conduct associated with the token.

The news caused TRX, the market’s 17th-largest cryptocurrency by market cap, to drop to a three-week low of $0.062 before rebounding to $0.064 by press time, representing a 4.7% drop over the day, the steepest decline among the crypto market’s top 50 assets, per CoinGecko.

Alan B
Alan B
Having immersed himself in the cryptocurrency space for several years, Alan has developed a keen eye for market trends and the latest developments in blockchain technology. His expertise spans a wide range of topics, from emerging altcoins to regulatory updates, making him a trusted voice in the community. When Alan isn't busy writing compelling articles, he enjoys attending industry conferences, engaging with fellow crypto enthusiasts, and staying up-to-date with the latest tech advancements.

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