In a surprising move, Google Play has taken down Trust Wallet, a popular non-custodial digital wallet for storing cryptocurrencies. Users attempting to access the app’s page on the marketplace are now met with a blank screen, signaling its unavailability.
Reason for Removal Unclear
The exact reason behind Google’s decision to remove Trust Wallet remains shrouded in mystery. Neither Trust Wallet nor Google Play has issued public statements regarding the removal, leaving users and the crypto community speculating.
Ok, well that was sorted quickly..! The Android version of the app is back on the Google Play Store 💙
Let’s continue #BUIDLing, checking charts & touching grass https://t.co/YbgfY2KcBP pic.twitter.com/9Z4KXkhqNV
— Trust Wallet (@TrustWallet) April 29, 2024
Following the news of Trust Wallet’s removal, the native token TWT experienced a significant drop, plummeting by over 5%, as reported by CoinGecko. This market reaction underscores the impact of such actions on associated digital assets.
Trust Wallet Background
Established in 2017 by Viktor Radchenko, Trust Wallet quickly gained popularity for its non-custodial storage services across various blockchain networks. The app’s acquisition by Binance in 2018 further solidified its position in the crypto space, although the financial details of the acquisition remain undisclosed. Despite the removal from the Play Store, Trust Wallet made a swift return within just 30 minutes of its delisting, surprising many.
FBI Warning and Speculations
This development comes shortly after the FBI issued a warning urging Americans to steer clear of crypto services offered by companies not registered as Money Services Businesses (MSBs) and lacking anti-money laundering measures. While it’s uncertain whether Google’s removal of Trust Wallet is directly linked to this advisory, other non-custodial crypto wallets remain accessible on the Google Play Store.
As the crypto community awaits further clarification, the removal of Trust Wallet raises questions about the regulatory landscape surrounding cryptocurrency services and their availability on mainstream platforms like Google Play.
