Tornado Cash token falls 57% after Binance announces delisting
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The governance token for crypto mixer Tornado Cash (TORN) has
Binance originally claimed that it did not allow U.S. residents to use its exchange. But on Nov. 21, the United States Department of Justice announced that it had reached a plea deal with Binance. As part of the deal, Binance admitted that it had served some U.S. customers without having a license to do business in the US.
In its announcement, Binance said it delisted TORN because the token no longer meets its standard for listable assets, based on a variety of factors. “At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect,” the Binance team stated. “When a coin or token no longer meets this standard, or the industry changes, we conduct a more in-depth review and potentially delist it.”
