US regulators finally approve crypto perps trading — long Coinbase as the biggest direct winner
The main US derivatives regulator just gave the green light for crypto perpetual futures contracts to trade on American soil for the first time. Coinbase was specifically named as an approved platform, unlocking a massive new revenue stream.
Idea
Perpetual futures — 'perps' — are the single most popular crypto trading product in the world, but until now they've only been available on offshore exchanges like Binance. The CFTC just changed that by approving onshore perps trading, and Coinbase is one of the first platforms cleared to offer them. This is a direct new revenue stream for Coinbase: traders will pay fees to use a regulated, US-based perps market. Regulatory approval also removes a major overhang — it signals Washington is becoming more crypto-friendly, not less. Coinbase stock tends to rally hard on positive regulatory news, and this is the biggest such development in years.