Binance, the world’s largest cryptocurrency exchange, started the day with an altcoin announcement.

At this point, Binance announced that it will delist the altcoin REEF from futures.

“Binance Futures will close all positions in the REEF/USDT perpetual contract and perform an automatic settlement on 2025-01-22 09:00 (UTC). Once the settlement is complete, the REEF/USDT contract will be delisted.

Users are advised to close open positions before the exchange exit time to avoid automatic closing.

Users will not be allowed to open new positions for the REEF/USDT contract as of 2025-01-22 08:30 (UTC).”

After the Binance announcement, REEF price dropped by 15%.

*This is not investment advice.