Adjusting Trading Offerings to Maintain Quality
Binance, one of the leading cryptocurrency exchanges, has decided to delist several trading pairs involving TrueUSD (TUSD), a stablecoin associated with Tron founder Justin Sun. The affected pairs include COMP/TUSD, EDU/TUSD, and PENDLE/TUSD, as well as BNB pairs for Arpa and EduCoin. The delisting is scheduled to take effect on March 15, 2024, at 3:00 am UTC.
Protecting Users and Ensuring Market Quality
The decision to delist these trading pairs is part of Binance's routine efforts to protect its users and uphold a high-quality trading environment. Factors leading to the delisting of trading pairs can include poor liquidity and trading volume. It's important to note that while these trading pairs will be removed, it does not mean that TUSD itself will no longer be available on Binance. Users will still be able to trade TUSD with other cryptocurrencies on different trading pairs offered by the exchange.
Continued Availability of TrueUSD
Despite the delisting of these trading pairs, TrueUSD will continue to be available for trading on Binance. Currently, TUSD is paired with prominent cryptocurrencies such as Bitcoin, Cardano, and Bitcoin Cash on the exchange.
Adjustments to Trading Bot Services
In addition to delisting the trading pairs, Binance will also terminate the spot trading bot services for these pairs at the same date and time. Users are advised to update or cancel their bots before the delisting date to avoid any potential losses.
Background on TrueUSD's Challenges
TrueUSD has faced challenges in recent times, including a data breach in October 2023 that potentially exposed Know Your Customer (KYC) and transaction history data of its users. The stablecoin also experienced a drop in value earlier this year, falling below its peg to the U.S. dollar, after a significant amount of TUSD was exchanged for Tether. These challenges highlight the volatility and complexities of the cryptocurrency market.
