Cryptocurrency exchange Binance has announced the delisting of several TrueUSD (TUSD) trading pairs.
Binance published a warning to its users that some pairs with TUSD, a stablecoin linked to Justin Sun, will be removed from the platform.
The pairs COMP/TUSD, EDU/TUSD, and PENDLE/TUSD will be excluded. The BNB platform's own token pairs, ARPA/BNB and EDU/BNB, will also be excluded from the listing.
The changes will take place on March 15, 2024, at 3:00 UTC, according to Binance's official website.
Binance conducts periodic reviews of all spot trading pairs and may delist pairs due to various factors, such as poor liquidity and low trading volume.
The exchange noted in its announcement that such actions are taken to protect users and maintain a high-quality trading market.
However, the delisting of trading pairs does not mean that the asset is completely removed from the platform. Binance stated: "The delisting of a spot trading pair does not affect the availability of tokens on Binance Spot. Users will still be able to trade the underlying spot trading pair and use quotes with that pair."
Thus, the TUSD stablecoin will remain available on the platform as part of other pairs. For example, TUSD will remain paired with other assets, such as Bitcoin.
In addition to removing trading pairs from the list, Binance also said that it will stop spot trading bots for these pairs on the same day and time. The exchange urged users to update or disable their bots by March 15 to avoid potential losses.
The TUSD team experienced some difficulties in the fourth quarter of 2023. On October 17, developers announced a potential KYC (Know Your Customer) and transaction history data leak, which was reported after a third-party vendor was hacked.
Stablecoin fell below $1 in 2024 as users cashed out hundreds of millions of TUSD in exchange for Tether (USDT).
The value of TUSD dropped to $0.984 on January 15, when traders staged a sell-off of more than $339 million worth of TUSD tokens. Users believe that the sell-off may be due to the fact that TUSD is not included in the initiative to launch the Manta exchange pool.
Read also: Dollar held its position after release of US inflation data
