Trust Wallet Token drops 17% after Reuters article

The cryptocurrency TWT (Trust Wallet Token) fell by 17% in a few hours — all due to the spread of FUD after a Reuters article about Binance, which acquired the Trust Wallet wallet back in 2018. The new critical article by Reuters negatively affected the reputation of the world’s largest exchange, although Binance representatives have already published an explanation.

Reuters journalists published a new article about the completion of the US Department of Justice’s investigation into Binance’s compliance with anti-money laundering laws and sanctions. According to the publication’s representatives, law enforcement agencies and US government officials are currently deciding on the «future of the exchange,» and some officials are demanding that a criminal case be opened against Changpeng Zhao.

It is worth noting that in their article, Reuters journalists cite anonymous sources, not official representatives of the Ministry of Justice. The publication, which has previously published unverified and fake information, accused Binance of conspiracy to launder money and violating sanctions.

Reuters has it wrong again.

Now they're attacking our incredible law enforcement team. A team that we're incredibly proud of — they've made crypto more secure for all of us.

Here’s the full statement we sent the reporter and a blog about our remarkable law enforcement team.

— Binance (@binance) December 12, 2022

The official Twitter page of Binance has already posted information about the falsity of the journalists' words and the appeal to Reuters. «Reuters has made another mistake. Now they are attacking us and our incredible team investigating cryptocurrency crimes. Binance Investigations has made cryptocurrencies safer for all of us,» the exchange representatives emphasized.

As for the TWT $1.19 Trust Wallet -5.31% Market capitalization $0.49 billion VOL. 24 hours $4.52 million token, at the time of writing, the rate of decline in its value has decreased, and its market capitalization has reached more than $ 1 billion. As recently as December 9, Trust Wallet Token was the leader among the growing digital assets, rising by 9.34% per day. Also in November, TWT grew by 100% in a week.