The Tron Foundation has recently been dealt a major blow as its token, TRX, was delisted from Binance.US, one of the largest cryptocurrency exchanges in the United States. The delisting was announced on April 12th, causing the price of TRX to drop by 6%.
The reason for the delisting was due to the lack of regulatory clarity surrounding TRX and the potential for increased risk. Binance.US stated that the delisting was in accordance with its Digital Asset Risk Assessment Framework, which is designed to minimize risk to its customers.
This news is a major setback for the Tron Foundation, which has been working hard to attract more investors and increase its market capitalization. The Foundation has been working to build a platform that allows users to create and deploy decentralized applications (DApps) on the Tron blockchain.
The delisting of TRX was the latest in a series of blows to the Tron Foundation. Earlier this year, the U.S. Securities and Exchange Commission (SEC) issued a cease-and-desist order against the Tron Foundation. The SEC accused the Foundation of engaging in unregistered securities offerings and of making false and misleading statements about its business operations.
The news of the delisting has caused a stir in the crypto community, with many investors and analysts questioning the Foundation’s ability to recover from the losses. Despite the bad news, the Foundation has remained committed to its mission of developing a decentralized, open source blockchain platform.
In a statement, the Tron Foundation said it was disappointed with the delisting and that it would work to ensure that TRX meets the requirements of Binance.US and other exchanges. The Foundation also stated that it would continue to work to improve regulatory clarity and compliance with all applicable laws and regulations.
The delisting of TRX is a major setback for the Tron Foundation, but it remains committed to its mission of creating a decentralized, open source blockchain platform. The Foundation is working to ensure that TRX meets all the requirements of exchanges and will continue to strive for regulatory clarity and compliance.