April 29 (Cointime) - According to Twitter user @BitcoinEmber, Justin Sun, the founder of TRON, redeemed 43.19 million TRX from the Venus and PancakeSwap platforms, and transferred them to Binance in three separate transactions, totaling 56.19 million TRX (equivalent to $3.68 million).  

Justin Sun, the founder of TRON, redeemed 43.19 million TRX from the Venus and PancakeSwap platforms.

Binance.US To Delist Tron’s TRX Amid Rumors Of Justin Sun’s Arrest; Bruce Lee Foundation Partners With Shibuya for Web3 Presence Through NFTs

TRON (TRX) price fell 4.81% in the last 24 hours after Binance.US announced it would delist TRX and Spell (SPELL) on April 18. The announcement cited factors such as tokens' risk profile, networks' resistance to internal and external attacks, smart contract stability, and evidence of unethical/fraudulent conduct or negligence as reasons for the delisting decision. TRX's price declined from $0.0666 to as low as $0.0632 within a few hours, while SPELL's price fell from $0.007953 to as low as $0.007510. Withdrawals for both assets will remain open even after the delisting is completed on April 18.

Binance.US, a cryptocurrency exchange set up by Binance to serve US customers, will delist the native token of the Tron blockchain, TRX, on April 18. The exchange said its digital asset monitoring process considers a range of factors, including changes in a token's risk profile, regulatory standing, and unethical conduct. The announcement follows the US Securities and Exchange Commission's legal action against Tron founder Justin Sun and three of his firms for the "unregistered offer and sale of crypto asset securities Tronix (TRX) and BitTorrent (BTT)." Binance will also delist Spell, a token associated with the lending platform abracadabra.money. (forkast)

Tron’s TRX token has been delisted on Binance.US. TRX dropped 6.4% on the news, according to CoinDesk market data.

What comes as a surprise to many, rumors are on the rise that Tron founder Justin Sun has been handcuffed by law enforcement officers in Hong Kong. The details shared on Twitter are vague, however, many have come forward to call it out as a deliberate attempt to FUD the crypto project. At the time of writing, TRX’s price succumbed to the ongoing rumor and has dropped by 1.2% in the minutes following the news.

Tron (TRX) has surpassed both Bitcoin (BTC) and Ethereum (ETH) in terms of active address count. The article notes that this is a significant milestone for the Tron network, which has been steadily growing in popularity and adoption over the past few years.

SEC alleged that TRX and BTT are unregistered securities, and claimed Sun created an "extensive wash trading" program to boost their trading volume.

Eight celebrities including Lindsay Lohan and Jake Paul were also charged for illegally touting Sun’s crypto asset securities.