Binance announced plans to delist Tornado Cash’s native token, TORN, on Nov. 27, closely coinciding with massive losses for the coin.
The exchange announced plans to delist TORN on Nov. 27 at 6:00 PM UTC. This coincided with a sudden loss in value for the asset, which dropped from $3.90 to as low as $1.94 in just one hour. As of 9:00 PM UTC on Nov. 27, TORN was valued at $1.73, representing a 55.6% loss since the initial drop and a 53.2% loss over 24 hours.
Binance said it would begin to delist and halt trading for TORN starting on Dec. 7 at 3:00 PM UTC. It added that it will stop crediting deposits on Dec. 8 and disable withdrawals after March 7, 2024.
The announcement named three other assets that will be delisted on the same schedule: BitShares (BTS), PERL.eco (PERL), and Waltonchain (WTC). Each coin also saw sudden losses after Binance announced the delistings.
Tornado Cash was sanctioned last year
Binance did not say why it intends to delist Tornado Cash but said that it reviews
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