TRX has lost more than 4% in the last 24 hours after getting delisted on Binance.US.
The delisting came after the SEC sued Tron's Justin Sun over allegations of selling and airdropping unregistered securities.
TRX Losses 4% Of Its Value After Binance.US Delisting
TRX, the native token of the TronDAO ecosystem, has lost more than 4% of its value in the last 24 hours. This latest development comes after Binance.US, the United States arm of Binance, delisted the token on its platform.
Binance.US delisted TRX after the United States Securities and Exchange Commission sued Tron's Justin Sun over allegations of selling and airdropping unregistered securities, fraud and market manipulation involving the TRX token.
The cryptocurrency exchange said trading for TRX will end on April 18. While announcing this, Binance.US said;
"We operate in a rapidly evolving industry, and our digital asset monitoring process is designed to be responsive to market and regulatory developments. 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."
TRX is now trading at $0.06391 per coin, down by nearly 5% in the last 24 hours. Tron is the 16th largest cryptocurrency, with a market cap of over $5 billion.
A spokesperson for TronDAO said they are in talks with Binance.US over this latest development.