Binance started free BTC trading with 13 spot pairs to celebrate its 5th birthday. This program quickly pump Bitcoin trading volume on the exchange to a peak but also generated a lot of criticism against Binance.
However, the exchange had still maintained this fee since then. But on March 15, 2023, Binance suddenly announced to stop free BTC trading but excluding pairs with stablecoin TrueUSD (TUSD).
Specifically, according to the announcement, only BTC/TUSD pair is currently a free spot, the remaining pairs will start applying the standard transaction fee from March 22, 2023.
This move further shows how Binance is favoring stablecoin TUSD after ending its relationship with BUSD because of Paxos’ legal troubles with US regulators.
Previously, Binance also issued a large amount of stablecoin TUSD in a short time and put TUSD in many trading pairs on the exchange.
Due to the news, the TRU token price of TrueFi lending protocol also surged sharply, although, in fact, this project is not too “related” to TUSD, just used to be a product of TrueFi Protocol.
As can be seen in the chart below, the price of TRU skyrocketed within 1 hour of the exchange’s announcement. TRU is currently trading around $0.14, up 18% in the past 24 hours.
In response, Binance CEO CZ tweeted emphasizing that TRU is not related to TUSD.