Following the news that Binance, the biggest cryptocurrency exchange in the world in terms of volume, made about the delisting of the Tornado Cash (TORN) token, the value of the token witnessed a significant decline over time. It is important to note that the market value of TORN, which is the governing token for the cryptocurrency mixing protocol Tornado Cash, has seen a dramatic decline of more than fifty percent.
In accordance with the information provided by CoinGecko, the collapse was particularly severe, with the value of TORN falling from around $4.00 to $1.66, which represents a reduction of 57%. This precipitous decline happened at the same time that Binance announced that it will stop accepting deposits of TORN on December 8 and would totally stop taking withdrawals after March 7, 2024.
A portion of the decrease in the value of TORN may be ascribed to the penalties that were placed on Tornado Cash by the United States…
