Binance.US, the United States arm of the cryptocurrency exchange Binance will delist two digital tokens from its trading platform on April 18.
Binance said that it has decided to delist digital tokens Tron (TRX) and Spell (SPELL) as part of a periodic review.
As per media reports, Tron fell over five percent against the US dollar after the announcement, while the Spell token fell over four percent on Wednesday.
Binance said that changes in the trading volume and liquidity, volatility in token’s risk profile, or evidence of fraud are some of the factors that are considered before delisting a token from its trading platform.
The decision to delist Tron comes just days after the US Securities and Exchange Commission charged Tron founder Justin Sun with fraud. According to the US regulator, Sun distributed billions of crypto assets known as Tronix (TRX) and BitTorrent (BTT) to artificially inflate trading volume.
However, Sun has downplayed the delisting of his token, arguing that Tron’s trading volume on the trading platform in the United States is only a small fraction of its total trade volume. “Tron’s current trading volume is $400 million,” Reuters quoted him as saying.
It is however unclear why Spell has been delisted from Binance.US.
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