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Tron’s TRX Drops 6% as Binance.US Delists the Token
Binance.US says a variety of factors can lead to de-listing, including regulatory standing in the U.S. and unethical behavior.
Tron’s TRX token has been delisted on Binance.US.
This comes weeks after the U.S. Securities and Exchange Commission sued Tron's Justin Sun over allegations of selling and airdropping unregistered securities, fraud and market manipulation involving the TRX token.
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TRX dropped 6.4% on the news, according to CoinDesk market data.
Binance.US says trading for TRX will end on April 18.
"We operate in a rapidly evolving industry and our digital asset monitoring process is designed to be responsive to market and regulatory developments. When a digital asset no longer meets our high standards, or industry circumstances change, we conduct a more in-depth review of the affected asset and assess whether further action is necessary," Binance.US said on its page announcing the delisting.
A spokesperson for Tron said it is in communication with Binance.US over this and has no further comment at this time.
Sam Reynolds
Sam Reynolds is a senior reporter based in Asia. Sam was part of the CoinDesk team that won the 2023 Gerald Loeb award in the breaking news category for coverage of FTX's collapse. Prior to CoinDesk, he was a reporter with Blockworks and a semiconductor analyst with IDC.
