A new bad news shakes Tron this week. The exchange decided that it will delist the Tron (TRX) token after its creator defended himself against arrest rumors.
Binance Us, the partner of Binance for its US clients, announced that it will withdraw from its platform the Tron token (TRX)just hours after Justin Sun defended himself against the arrest rumors.
According to official information, Binance.US claims that it took into account several factors, including the regulatory position in the United States and evidence of unethical/fraudulent or negligent conduct, which contribute to its decision to delist a digital asset.
“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, i.e. delisting,” he said. the notice.
Binance.US’s decision comes weeks after the US Securities and Exchange Commission sued Justin Sun over allegations of selling unregistered securities, fraud and market manipulation through his TRX and BTT tokens, violating Section 5 of the Securities Act.
After the review, Binance.US said that it will delist Tron on April 18, 2023. The price of Tron sank 5% following the announcement, from $0.066 to $0.062, though as of press time, it is up as much as 1 % and is among the 20 most traded cryptocurrencies.
The US Securities and Exchange Commission also charged the Tron Foundation and the BitTorrent Foundation (now known as Rainberry) with fraud and market manipulation for creating an extensive scheme of “laundering operations.” who manipulated the trading volume of TRX.
The lawsuit alleges that Sun attempted to artificially inflate TRX trading volume and forced Tron Foundation employees to participate in more than 600,000 illegal trades using accounts controlled by the Tron and BitTorrent foundations.
Source: Ambito
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