Binance suspends XRP and TUSD support in Multi-Asset Mode

Binance has announced the suspension of support for XRP (CRYPTO:XRP) and TUSD (CRYPTO:TUSD) in Multi-Asset Mode starting May 28, citing the ongoing legal dispute between Ripple and the SEC.

The decision will automatically convert remaining XRP and TUSD holdings to USDT to mitigate potential losses for users.

Ripple's native token, XRP, experienced a slight decline in price following the announcement, despite an increase in trading volume.

Binance reassures continued support for other major cryptocurrencies like ADA (CRYPTO:ADA), USDT (CRYPTO:USDT), DOT (CRYPTO:DOT), BTC (CRYPTO:BTC), and others in Multi-Asset Mode.

This move coincides with recent developments in the legal proceedings between Ripple and the SEC, which could significantly impact XRP's future.