Regulators just greenlit crypto perps in America — long Coinbase as Bitcoin bleeds
U.S. regulators just gave the green light for crypto perpetual futures contracts to trade on American soil for the first time, with Coinbase named as an approved platform. Meanwhile, Bitcoin itself is struggling — it slipped below $73,000 and ETF investors have pulled out nearly $3 billion over nine straight days.
Idea
The CFTC just cleared the way for crypto perpetual futures to trade on U.S. shores for the first time, and Coinbase is one of the first platforms approved. Perpetual futures are the most popular crypto trading product globally, responsible for trillions in trading volume — but almost all of that happens offshore. Bringing this onshore means Coinbase could capture a massive new revenue stream from American traders who've been using foreign exchanges. The irony is that Bitcoin itself is getting hammered right now, with $2.8 billion pulled from ETFs in a record outflow streak. But that's exactly the point — Coinbase's stock can thrive on trading activity and new product launches even when crypto prices are down, because they collect fees either way.