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## The Situation with TORN Token on Binance

### TORN Token Plummets in Value after Binance Delisting
On Monday, the governance token of the Ethereum-based coin mixing protocol Tornado Cash, TORN, experienced a drastic drop in value. Within just an hour of Binance’s announcement of the token’s delisting, TORN’s price plummeted by more than 50%, from around $4 to $1.95, marking a loss of approximately 52% in value.

### Subsequent Fluctuations in the Token’s Value
Following the initial crash, the token briefly recovered some of its losses before descending even further. At one point, it reached lows of around $1.6, almost 60% below its pre-announcement price.

### BinanceÔÇÖs Announcement and Justification
In its announcement, Binance cited a standard periodical review of listed assets to ensure they meet the expected standards. The exchange 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.”

### Impact of the Delisting on TORN Token
The delisting of TORN has significant implications for its trading volume, particularly as trading on Binance in the TORN/BUSD pair accounts for over 57% of the token’s trading volume. This move also raises concerns about potential delistings from other exchanges, exacerbating liquidity issues for TORN holders.

### Binance’s Focus on Regulatory Compliance
The delisting comes shortly after Richard Teng took over as CEO of Binance, succeeding Changpeng Zhao (CZ). Teng has expressed a commitment to improving Binance’s compliance with global regulations.

### Tornado Cash’s Controversial Reputation
Tornado Cash, the mixing service associated with TORN, has faced negative media coverage due to its use by hackers and cybercriminals, leading to sanctions from the US Treasury Department. The protocol’s association with illicit activities, including money laundering, has contributed to its contentious reputation.

### AI legalese decoder as a Solution
The AI legalese decoder can play a crucial role in this situation by assisting in analyzing the regulatory implications of Binance’s delisting decision. By decoding legal jargon and complex regulatory language, this AI tool can provide a clear understanding of the legal landscape surrounding TORN and Tornado Cash. Additionally, it can help navigate the potential impact of the delisting on the token’s liquidity and trading prospects, offering valuable insights for affected stakeholders.

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