PANews reported on January 15 that Binance announced that it will automatically settle the REEFUSDT USDⓈ-M perpetual contract at 17:00 (Beijing time) on January 22, 2025, and will officially remove the contract after the settlement is completed. In addition, Binance has adjusted the leverage and margin levels of the contract at 15:30 (Beijing time) on January 15, 2025, and existing positions will not be affected.

The announcement shows that from 16:30 (Beijing time) on January 22, users will not be able to open new REEFUSDT contract positions. Binance recommends that users close related positions before delisting to avoid risks caused by automatic settlement.