On Wednesday, Binance U.S. said it would withdraw TRON and Spell from its trading platform, plummeting their values.
The U.S. said it periodically reviews trading volume and liquidity, token risk profile changes, and fraud or unethical behavior.
According to CoinMarketCap, the TRON token lost about 5% against the U.S. dollar after the news on Twitter and Binance.US, while the much smaller Spell token plunged more than 5%.
Binance.US announced the two coins’ delisting on April 18. As a result, trading and deposits will close, but withdrawals will continue.
TRON token creator Justin Sun texted Reuters that the impact would be “pretty modest.”
“Binance. Daily U.S. trade volume is under $1 million. TRX trades $400 million “Sun quoted the token’s ticker symbol. The SEC accused Sun of fraud last month.
Sun earlier claimed the SEC’s “complaint lacks validity” and that its digital asset framework “is still in its infancy and is in need of further improvement.”
