📰 Table Of Contents
Binance Delisting Announcement
Binance, the world’s largest cryptocurrency exchange, has revealed its plan to delist multiple TrueUSD spot trading pairs and a couple of BNB pairs.
Delisted Trading Pairs
- PENDLE/TUSD
- COMP/TUSD
- EDU/TUSD
- ARPA/BNB
- EDU/BNB
This decision will be effective by Friday, March 15, 2024 at 3:00 am UTC.
Reasons for Delisting
Binance cited concerns such as poor liquidity and high trading volume as reasons for the delisting.
Continued Availability
Users will still have access to trade other TrueUSD and BNB pairs like USDT, Bitcoin, BNB, etc.
Trading Bot Deactivation
Binance urged users to deactivate their trading bots associated with the affected pairs to avoid potential losses.
TrueUSD Recent Issues
The TUSD stablecoin has faced several issues since late 2023, including a data breach incident and temporary de-pegging from the US dollar.
An imbalance in TUSD trading on Binance was observed on January 15, 2024, leading to a fall in TUSD’s value.
Issues concerning the real-time backing of TrueUSD’s reserves were reported, prompting speculation about the stablecoin’s integrity.
The TrueUSD team attributed the de-pegging event to arbitrage opportunities arising from mining activities on Binance Launchpool.
Previous Delisting Cases
Binance has delisted trading pairs in the past, including NGN trading pairs before discontinuing Nigerian Naira services on March 5.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
