Binance exchange has announced the removal of many trading pairings that include TrueUSD (TUSD), a stablecoin associated with Tron creator Justin Sun.
The decision to delist certain pairings is part of Binance’s normal assessment process to protect user safety and preserve the integrity of the trading ecosystem. The delisting of spot trading pairs is mostly caused by insufficient liquidity and trading volume.
Nevertheless, the crypto exchange has made it clear that the delisting will not impact the accessibility of tokens on Binance Spot.
This means that users can still engage in spot trading using the base and quote assets of the spot trading pair on other trading pairs that are currently accessible.
In addition, Binance has also announced the termination of spot trading bot services for certain pairings. Users are advised to modify or delete their bots before the deadline to avoid any financial losses.
TUSD has seen many difficulties since late 2023, including as a security breach on October 17, a possible disclosure of user KYC and transaction data, and a stability assessment of a stablecoin earlier this year when it strayed from its intended value of $1.
On January 15, the value of TUSD decreased to $0.984 after traders sold off more than $339 million worth of TUSD in exchange for Tether. This was in response to concerns regarding the token’s exclusion from Binance’s Manta launch pool project.