CEFIREGULATION

Related to SEC lawsuit against Justin Sun? Binance US announces delisting of SPELL and TRX

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Related to SEC lawsuit against Justin Sun? Binance US announces delisting of SPELL and TRX

Binance US announced that SPELL and TRX did not meet the listing standards. Therefore, the tokens will be delisted on April 18th, Eastern Time. However, they will continue to support the TRC-20 versions of USDT and USDC stablecoins.

Binance.US Announces Delisting of SPELL and TRX

Binance.US announced the following on April 12th:

  • Discontinuation and disabling of TRX staking at 07:00 a.m. EST on April 13th

  • Closure of SPELL and TRX deposits at 10:00 p.m. EST on April 17th

  • Closure of trading, conversion, and OTC services for SPELL and TRX at 11:00 p.m. EST on April 17th

  • Cessation of SPELL and TRX trading at 11:00 p.m. EST on April 18th

Continued Support for TRC-20 USDT and USDC

The announcement stated that support for TRC-20 versions of USDT and USDC will continue, but all orders will be canceled, and the following trading pairs will be closed at 11:00 p.m. EST on April 18th:

  • TRX/USD

  • TRX/USDT

  • TRX/BTC

  • SPELL/USD

  • SPELL/USDT

Binance.US Delisting Linked to Justin Sun's Alleged Fraud?

Binance.US did not mention the reason for the delisting in the announcement, only listing a set of listing conditions, claiming that SPELL and TRX did not meet the standards.

Previously reported, Justin Sun was charged by the SEC on March 22nd, including allegations of fraud, market manipulation, and selling unregistered securities.

Interpreting SEC Complaint: Justin Sun Charged with Fraud, Unregistered Sale of Tron/BitTorrent and Market Manipulation

Justin Sun is currently in Hong Kong attending a summit and has not responded to the delisting of TRX by Binance.US.