Binance.US to Delist TRX Token

The cryptocurrency exchange Binance.US said it would delist the Tron (TRX) and Spell (SPELL) tokens from its platform. The changes will take effect on April 18, 2023.

At #BinanceUS, we periodically review each digital asset listed to ensure that it continues to meet the standard of excellence we expect.

Based on our recent review, Spell (SPELL) and TRON (TRX) will be delisted from the platform on April 18, 2023.

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— Binance.US Customer Support (@BinanceUShelp) April 12, 2023

“Binance.US periodically reviews each digital asset to ensure that it continues to meet the standards of quality we expect,” the exchange said.

Specific reasons for the delisting are not disclosed. Binance.US said it would continue to support the stablecoins USDT and USDC on the TRON network.

TRX staking will be disabled on April 13. All tokens and earned rewards will be returned the following day.

Deposits, purchases, sales, and conversions of SPELL and TRX will be closed on April 17. Withdrawals of these tokens will remain open.

In the wake of the news, TRX quotes fell by 6%. As of writing, the token was trading at around $0.064.

In the evening of 11 April, rumors surfaced on WhaleWire about Sun’s detention in Hong Kong. The founder of TRON refuted them by pointing to Binance CEO Changpeng Zhao’s list, where 4 is a call to ignore FUD and fake news, represented as FUD.

Earlier in March, the U.S. Securities and Exchange Commission accused Sun and three of his companies of an unregistered offering of securities in the form of TRX and BTT.

The regulator also alleges that the entrepreneur and wholly owned TRON Foundation, BitTorrent Foundation and Rainberry (formerly BitTorrent) manipulated the secondary TRX market through “wash trading”.