Binance.US to Delist $SPELL and $TRX

On April 18th, 2023, Binance.US announced that it will delist $SPELL and $TRX from its platforms. Following a routine review procedure to evaluate whether assets meet its high standards, it was decided to remove these assets from the listing.

On April 18, 2023, Binance.US announced that it will delist $SPELL and $TRX from its platform. It was stated that after a routine review procedure in which Binance.US evaluated whether the assets met the high standards of the platform, the decision was made to remove these assets from the list.

Among the factors that influenced the delisting decision, Binance.US mentioned the risk profile of the asset, its contribution to a healthy and sustainable crypto ecosystem, its trading volume and liquidity, the regulatory status in the United States, development activities, network stability, community involvement, and most importantly, transactions involving unethical or fraudulent activities.

As a result of the delisting decision, deposits made for $SPELL and $TRX will be closed on April 17, 2023, and will not be credited to accounts as a loan. Withdrawal operations will remain open. One hour after the deposits are closed, trading functionality will be removed, and staking for $TRX will be disabled and removed from the staking page. Binance.US will continue to support TRC-20 USDT and USDC traded on the TRON network.

Users who own $SPELL and $TRX should keep track of the relevant dates and take precautions before the delisting process begins.

You can access the official announcement from Binance.US through the link below: https://support.binance.us/hc/en-us/articles/13772424892567-Binance-US-Will-Delist-Spell-SPELL-TRON-TRX-on-April-18-2023

Statement from Justin Sun on the subject

Justin Sun believes that the delisting of $TRX from Binance.US will not significantly impact the $TRX market. He stated that Binance.US has low daily trading volume and therefore will have a relatively small impact on the $TRX market. However, Sun stated that he continues to communicate with the exchange and is working to understand the reason for delisting and to relist $TRX.

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