TORN Tumbles 55% Following Binance Delisting


On Monday, the price of Tornado Cash (TORN) fell sharply, dropping 55% from near $4.00 to as low as $1.64. Binance’s announcement that it would list TORN, WTC, PERL and BTS, was followed by the significant decline in price.

At the time of writing, TORN was trading at $1.70. Data from CoinGecko shows that the token hit lows of $1.64 across major crypto exchanges.

Binance announced that it would delist TORN, BitShares (BTS), (PERL) and Waltonchain (WTC). This involves delisting the following trading pairs: BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, WTC/USDT. The delisting will take effect on December 7, 2023 at 3:00 (UTC).

The prices of BTS, PERL and WTC dropped by 56%, 54%, and 47% respectively. The announcement from Binance stated that the delistings were based on their periodic review of digital assets, which “ensure that it continues to meet the high level of standard we expect”.

The delistings follow the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioning the crypto mixing service. Binance also agreed a $4.3 billion settlement with US authorities last week, with ex-CEO Changpeng Zhao stepping down.

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