Binance Futures has scheduled a contract-size adjustment for its Anthropic-linked pre-IPO perpetual after the artificial-intelligence company disclosed a much larger estimated share count in an amended U.S. registration statement. The exchange will start the process at 08:30 UTC on November 17, suspend the market during the adjustment and rename ANTHROPICUSDT to ANTUSDT. Binance expects continuous trading to resume at 11:00 UTC, following a cancel-only phase that may last as long as five minutes. The Crypto Basic independently reported the same timetable and account-handling steps on November 15.

A 13.116 scale factor replaces the original basis

The contract was launched using an estimated basis of 1 billion Anthropic shares. Binance now lists a revised estimated count of 13,116,075,288 and an adjustment scale factor of 13.116. That estimate draws on Anthropic's November 10 Form S-1/A amendment, including common shares expected to be outstanding after the offering and concurrent private placement, plus specified acquisition and concurrent-issuance shares. It excludes unexercised options, unsettled restricted stock units, unconverted securities and shares reserved for future awards. A contract-size rebase changes the derivative's quoting units to reflect a new share-count denominator; it is not a forecast of Anthropic's value or final IPO price. Binance cautioned that the actual count could still change if Anthropic amends its filing before listing.

Related reporting: Anthropic IPO Bets Reach Hyperliquid Without Share Backing

Orders and bots face different treatment

At 08:15 UTC, Binance will terminate Grid, DCA and Snowball strategy bots attached to the contract and close their positions automatically. Those bot positions will not be reinstated. Once the adjustment begins, all open orders, including reduce-only take-profit and stop-loss instructions, will be canceled. Trading, position closing, funding, mark-price updates, index-price updates and liquidation functions will be suspended. For manual positions, Binance says it will close positions first, settle unrealized profit and loss into cross-margin futures accounts, and then reinstate eligible positions after the rebase. Isolated-margin balances will temporarily move through cross margin before the new position is established.

The filing supplies a concrete IPO reference point

Anthropic's preliminary prospectus offers 825 million Class A shares, including 801,351,354 sold by the company and 23,648,646 sold by existing holders. The filing gives an estimated price range of $70 to $78 and seeks a Nasdaq listing under ANT, but the registration statement is not yet effective. Binance's offshore perpetual does not represent ownership of Anthropic shares, an IPO allocation or voting rights, and Anthropic does not sponsor or endorse it. The ticker change therefore aligns the derivative with the proposed stock symbol without converting the contract into equity.

Other venues are making related adjustments

Bybit separately scheduled an indicative 13.116-for-one adjustment for its own ANTHROPICUSDT perpetual on November 16, with prices divided by 13.116 and eligible position quantities multiplied by the same factor. The similar treatment supports the share-count rationale, but each venue controls its own timing, order handling and final scale. Binance also says it may skip a further size change if a later share-count difference is below 3%, or announce another adjustment if the proposed count changes materially. API users can monitor the contract's session state through Binance's exchange-information endpoint, while interface users can check the market page. Traders therefore need to distinguish the confirmed November 17 operating window from the still-preliminary IPO terms.

Sources

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