US regulators just greenlit crypto perpetual futures — accumulate Coinbase before the new revenue kicks in
The top US derivatives regulator just cleared the way for crypto perpetual futures contracts to be offered on American exchanges for the first time. Coinbase and Kalshi are among the first platforms getting the green light to offer these products, which have until now only been available on overseas exchanges.
Idea
Perpetual futures are the most popular crypto trading product in the world — they handle more volume than regular spot trading on many days. Until now, American traders had to use offshore exchanges to access them. Bringing this product onshore to regulated US platforms like Coinbase is a big deal because it opens up a massive new revenue stream and gives Coinbase a product that competes directly with Binance and other offshore giants. This isn't just a one-day headline; it's a structural shift in how crypto trading works in America. The companies first in line to offer these products — especially Coinbase — stand to capture the lion's share of new trading fees and customer deposits.