The TRON Controversy and a Public Service Announcement

Article source, here.

TL;DR

• While the TRX price may have fluctuated a bit over the past few weeks, there's been no real impact of the SEC’s allegations of TRON founder, Justin Sun, at a larger scale...until now.

• Yesterday, it was announced that Binance.US would be delisting TRX from their exchange on April 18th.

• If you hold TRX on Binance US, now might be a good time to move it somewhere else or swap it for another coin.

• If you have a crypto project, make sure you stay vigilant, or you might just find yourself delisted from some of the largest centralized exchanges.

Full Story

We haven't covered the TRON (TRX) controversy that's been playing out over the past few weeks much - because, while the charges are severe, everything is just alleged at the moment.

While the TRX price may have fluctuated a bit, there's been no real impact at a larger scale...until now.

Here's what's been going on:

• On March 22nd, the SEC charged TRON founder, Justin Sun, and his Companies, for fraud and other securities violations.

• The SEC alleged that both TRX and BTT (another of J Sun's crypto companies) are unregistered securities; and that Sun engaged in price manipulation by the simultaneous or near-simultaneous purchase and sale of the coins to make them appear actively traded without an actual change in beneficial ownership.

• They also allege that Sun earned illegal profits of $31 million through TRX sales.

Sounds like a tough day at the office for Sun and the others accused (which, side note, includes names like Lindsay Lohan, Jake Paul and Akon), but given the SEC's recent attack on crypto, it's not that surprising.

Yesterday, however, it was announced that Binance.US would be delisting TRX from their exchange on April 18th.

Binance US has good reason: they periodically review each coin on their platform, making sure they still pass a variety of conditions such as sufficient trading volume, liquidity, and a good regulatory standing.

On one hand, Binance needs to cover their own a$$ and make sure each coin on their exchange stands up to their high standards (which is a good thing for the industry).

On the other hand, the SEC has been going after everyone they can find who has attempted to 'bend the rules' over the past few months.

So, this is more of a public service announcement: if you hold TRX on Binance US, now might be a good time to move it somewhere else or swap it for another coin.

And if you have a crypto project, make sure you stay vigilant, or you might just find yourself delisted from some of the largest centralized exchanges.