Cryptocurrency exchange Binance has announced its decision to delist several trading pairs associated with TrueUSD (TUSD), a stablecoin linked to Tron founder Justin Sun. In a notice published on March 13, Binance revealed the delisting of COMP/TUSD, EDU/TUSD, and PENDLE/TUSD, alongside removing BNB pairs for Arpa and EduCoin from its platform. The exchange will officially remove these pairs on March 15, 2024, at 3:00 AM UTC.
Binance explained that this action is part of its routine efforts to protect users and ensure a high-quality trading market. Reasons for spot trading pair removals may include factors like poor liquidity and trading volume. However, Binance clarified that delisting trading pairs does not mean the complete removal of assets from the exchange. Users can still trade the base pairs of these assets on other available pairs within Binance’s spot market, meaning the stablecoin will remain accessible on the exchange in other trading pairs.
At the time of writing, TUSD is paired with prominent cryptocurrencies like Bitcoin, Cardano, Avalanche, and Bitcoin Cash on Binance.
In addition to delisting trading pairs, Binance also announced the termination of spot trading bot services for these pairs at the same date and time. The exchange has advised users to update or cancel their bots accordingly to prevent potential losses.
TUSD has faced several challenges since Q4 2023. On October 17, the stablecoin’s support team disclosed a potential leak of customer KYC information and transaction history following a third-party vendor breach.
Early this year, TUSD’s price dropped below its dollar peg after holders redeemed hundreds of millions of tokens for Tether, causing its price to fall to $0.984 on January 15 after traders sold over $339 million worth of TUSD tokens. Speculation on X suggests the sell-off may have been related to TUSD’s non-listing in the Manta Exchange launch pool initiative.
