Binance Futures has confirmed it will phase out the USDⓈ-M ALPHAUSDT perpetual contract, with trading set to end on September 23 at 12:00 PM.
The exchange said traders will no longer be able to open new positions from 11:30 AM on the same day, and any existing ones will be automatically liquidated at noon.
The Futures Insurance Fund will not be applied during the final hour; instead, liquidations will be processed via the Immediate or Cancel Order (IOCO) method.
Accounts failing to meet margin requirements will see remaining positions closed through the Auto-Deleveraging (ADL) system.
Binance warned participants to keep a close eye on their exposure in the hours leading up to closure, as thin liquidity could increase volatility.
The platform also noted it may adjust factors such as leverage, margin rules, and funding rates if market conditions become unstable. The delisting, Binance said, is part of ongoing efforts to safeguard traders and maintain orderly markets.
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Source: https://coindoo.com/binance-announces-delisting-of-alphausdt-futures-contract/