November 27, 2023
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November 28, 2023
Binance revealed plans to delist Tornado Cash's native token, TORN on November 27.
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The announcement coincided with a significant drop in TORN's value, plummeting from $3.90 to as low as $1.94 within just one hour.
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By 9:00 PM UTC on November 27, TORN's value further declined to $1.73, reflecting a 55.6% loss since the initial drop and a 53.2% loss over 24 hours.
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Alongside TORN, Binance announced the delisting of three other assets on the same schedule: BitShares (BTS), PERL.eco (PERL), and Waltonchain (WTC).
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While Binance did not disclose specific reasons for Tornado Cash's delisting, the exchange mentioned that it periodically reviews assets and considers various factors in its decision-making process.
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Tornado Cash faced sanctions from the U.S. Treasury in August 2022 for its involvement in money laundering schemes, including those by North Korean cybercrime groups.
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The U.S. DoJ charged Tornado Cash's co-founders, Roman Storm & Roman Semenov in August 2023 with conspiracy to commit money laundering & other financial crimes.
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