Tornado Cash token falls 57% after Binance announces delisting

The governance token for crypto mixer Tornado Cash (TORN) has fallen by over 50% on Nov. 26-27, according to data from Coingecko. The crash came on the same day that crypto exchange Binance announced it was delisting the token.

Tornado Cash 24-hour chart. Source: Coingecko.

Tornado Cash is a cryptocurrency mixing protocol. Its token, TORN, is used to vote on proposals for upgrading the protocol. On Nov. 26-27, the token took a nosedive, falling from $3.90 to just $1.66, a decline of 57%. The price decline happened as the world’s largest crypto exchange by volume, Binance, announced that it will stop accepting deposits of TORN on Dec. 8 and will no longer process withdrawals after March…

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