US regulators just greenlit crypto perps — accumulate Coinbase before the new revenue kicks in
The top US derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American soil for the first time. Coinbase and prediction-market platform Kalshi received specific approvals to offer these products.
Idea
Perpetual futures are the most popular crypto trading product in the world, but until now they've only been available on offshore exchanges. Bringing them onshore to regulated US platforms is a massive revenue opportunity for Coinbase — these contracts generate continuous trading fees because they never expire. Coinbase received a specific no-action letter from the CFTC, making it the first major US exchange cleared to offer perps. This isn't just a one-day headline; it opens up a brand-new, high-margin business line. Despite Bitcoin ETFs seeing record outflows recently, this structural win for Coinbase's trading business is independent of crypto prices themselves.