U.S. just legalized crypto perpetual futures — Coinbase is the biggest winner here
The main U.S. derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American platforms like Coinbase. Until now, this wildly popular trading product has only been available on overseas exchanges.
Idea
Perpetual futures are the most-traded crypto product in the world, generating enormous fee revenue for exchanges like Binance and Bybit — but they've never been legally available in the U.S. until now. The CFTC just paved the way for Coinbase and Kalshi to offer them domestically, which means Coinbase is about to unlock a massive new revenue stream from American traders who currently trade offshore. This isn't just a one-day headline — it's a structural shift that could materially boost Coinbase's earnings over the coming quarters. Even with Bitcoin ETF outflows grabbing attention lately, this regulatory win is a genuine game-changer for the platform itself.