US just greenlit crypto perpetual futures — long Coinbase as the biggest winner
US regulators just cleared the way for crypto perpetual futures — a super-popular trading product that until now only existed on offshore exchanges. Coinbase is one of the first platforms approved to offer them in America.
Idea
Perpetual futures are the most-traded crypto product in the world, handling trillions in monthly volume — but until now, almost all of that trading happened on offshore platforms like Binance. Bringing this product onshore to regulated US exchanges is a massive revenue opportunity for Coinbase, which is already one of the first approved providers. This isn't just a one-day headline: it opens a new, high-margin revenue stream that scales with trading volume. Crypto regulation news like this has historically driven multi-week rallies in exchange stocks when it removes a major barrier to institutional participation.