Breaking: Binance Delists Altcoin from Futures Trading!

Binance, the world’s largest cryptocurrency exchange, has announced that it will remove the futures contracts of an altcoin from its platform.

According to the announcement published by Binance today, Tether and USDC-based perpetual futures contracts for IP (IP) will be completely delisted from the platform on June 28, 2026. The company stated that all open positions will be automatically closed at the specified time, and the relevant contracts will be permanently terminated.

According to the statement, users are required to close their positions before 12:00 PM (UTC+3) on the specified date to avoid potential risks. Additionally, the ability to open new positions for both contracts will be completely disabled as of 11:00 AM (UTC+3). Binance emphasized that users should carefully monitor their open positions throughout the process.

Binance stated that the Futures Insurance Fund will not be used in the final hour before closing, and liquidations occurring during this time will be sent to the market as a one-time Immediate or Cancel Order (IOCO). If this process does not reduce positions to the required level, the remaining portions will be closed using the Auto Deleveraging (ADL) mechanism.

The exchange also stated that it may take additional protective measures against extreme market volatility. These measures include adjusting maximum leverage values, updating position and maintenance margin levels, making changes to funding rates, and implementing protective mechanisms in the calculation of the mark price.

Binance reminded users to carefully manage their positions during this process, taking into account the risks of high volatility and low liquidity.