US regulators just greenlit crypto perpetuals — Coinbase is first in line, buy the breakout
The US derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American platforms. Coinbase and Kalshi are the first to move forward, which means a massive crypto trading product that previously only existed overseas is coming to US investors.
Idea
Perpetual futures are the most popular crypto trading product globally, and they've never been legally available in the US until now. Coinbase is first in line to offer them, which opens up a brand-new, high-margin revenue stream. Think of it like a casino getting approval to open a new floor — the infrastructure is already built, they just needed the regulatory okay. The stock may not gap up immediately because the full revenue impact takes time, but over the coming weeks, as traders digest how big this is for Coinbase's business, the stock should grind higher. The main risk is if the broader market pulls back and drags everything down with it.